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Large Language Models have revolutionized the Artificial Intelligence (AI) landscape since they were first developed in 2017 when a group of Google researchers wrote their now famous "Attention is all you need".

The growth of the Colombian economy was exceptionally low in 2023, registering at 0.6%. The primary culprit for this outcome was the steep decline in investment. Concerns extend beyond the short term, as the low investment rates will constrain the future productive capacity of the economy and curtail its competitiveness.

With a similar starting level two decades ago, Gross Fixed Capital Formation per working-age adult in Spain stood at 2,217 euros in 3Q23, 5.3% less than in 2001, while in the EU27 it reached 3,282 euros, 35.6% more than in 2001 and 48.0% more t…

Although per-capita income also depends on demographics, the employment rate and hours worked per employed person, productivity is the only determinant that is not subject to a natural limit and is capable of generating sustained long-term grow…

Labor shortage is one of the factors limiting housing production. The available information indicates that workers employed in construction age faster than average and have less education. Attracting talent is essential to ensure generational r…

Activity grew strongly in 4Q23 (0.6% q/q), despite the fall in most investment components. The improvement in activity is entirely attributable to the increase in employment, as productivity fell. All in all, GDP grew by 2.5% in 2023, slightly exceeding expectations.

Recently, the National Government, through the DNP, approved a policy document (Conpes) to boost manufacturing over the next 10 years, with focus on increasing productivity and promoting technological change in the economy. This column summarizes its starting hypotheses and objectives, commenting on some of them.

This Working Paper proposes a dynamic equilibrium model to study the transition to a decarbonized economy, the interaction between technology and fiscal policy, and its macroeconomic and well-being effects.

Prioritizing the resolution of educational problems and the reduction of economic informality is crucial. These efforts could pave the way for a more robust economy in Mexico, characterized by higher-paying jobs. Neglecting to address these cha…

This Working Paper analyzes the trends in income, employment and other economic aggregates in OECD countries from 1960 to 2022, showing the enormous heterogeneity that exists in this group in terms of growth over the last six decades.

The post-pandemic recovery process has been a mixed bag. On the plus side, both the labor force and employment have grown. However, GDP growth has not been enough to increase per capita income and productivity, and the gap with the EU has widened somewhat more than in the ten-year period leading up to COVID-19.

This presentation addresses the EU-Latam relationship and its structural challenges, as well as focusing on the analysis of the levers for productivity growth and how both regions can better address the challenges ahead by shoring up their relations on multiple fronts, building on many strengths.