Exchange rate dynamics, structural breaks, and central bank interventions in Colombia

We evaluate the effectiveness of the Colombian Central Bank´s interventions in the foreign exchange market during the period 2000 to 2014 -- We examine the stochastic process that describes the exchange rate, with a focus on the detection of structural breaks or unit roots in the data to determine whether the Central Bank´s interventions were effective -- We find that the exchange rate can be described either by a random walk or by a trend-stationary model with multiple breaks -- In neither cases do we find any evidence that the exchange rate was affected by the Central Bank interventions

State and economy. William Beveridge and Walter Eucken's criticisms and proposals. (A historical comparative perspective)

The central problem that this paper addresses is the development of political economic thought, both in Germany and in Great Britain, related to the construction of societies in which the State had a role in ensuring levels of stability and economic security to its inhabitants, particularly during the late 1940s -- This article proposes a comparative historical perspective of political economic thought of the British economist William Beveridge and his German counterpart Walter Eucken -- The comparison is based on their critiques to the economic system and proposals on the role that the State should play in the economy -- The study of the ideas of both thinkers, their criticisms and proposals on economic and political issues, allows us to understand the set of ideas that influenced the development of the Welfare State of the post war period, both in Britain and Germany