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For the past ten years, RES has accompanied the region in its journey through macroeconomic turmoil, fiscal uncertainty and social disappointment and accumulated A Decade of Development Thinking.
After decades using monetary aggregates as the main instrument of monetary policy and having different varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as the nominal anchor, a floating exchange rate, and the short-term interest rate as the main instrument. This paper examines the experience of the Colombian Ce ... (View publication)
This report is devoted to the social impact of the crisis and focuses on its effects on employment, nutrition, education, and poverty. It identifes the mechanisms by which the crisis can affect these critical social dimensions, and discusses possible policy responses given each country's circumstances, fiscal space and administrative capabilities. The social challenge generated by the crisis is no ... (View publication)
Competing in the world economy does not automatically boost a nation's productivity and restructure its economy. Such progress requires mobilizing capital, employment, technology and knowledge. Opportunities beyond the business realm must be fully exploited to the benfit of society as a whole. The Report provides clear policy guidelines and priorities for both government and the private sector to ... (View publication)
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