Research
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Working papers
01The Upside of Being Replaceable: AI, Market Structure, and GrowthStudies how an AI provider's market power affects investment in recursive AI self-improvement and economic growth. In the model, monopoly rewards research but restricts AI use: it can produce more efficient AI yet slower long-run growth than competition.Latest version (PDF) SSRN Digital edition and simulations Code and replication
02Beyond Formality: The Firm-Size Wage Premium in ColombiaDocuments the firm-size wage premium in Colombia using GEIH data for 2008-2025.03On the Efficiency of Mandatory Retirement Savings under Endogenous Borrowing ConstraintsExamines the efficiency of mandatory retirement savings under endogenous borrowing constraints.04Do bigger firms pay lower corporate taxes in Colombia?Studies how the effective corporate income tax rate varies with firm size in Colombia.05Uneven gains: the macroeconomic and welfare effects of the business tax reformEvaluates the macroeconomic and distributional effects of the 2017 U.S. business tax reform.06A dynamic general equilibrium model to evaluate income tax reforms in ColombiaPresents a dynamic general equilibrium model to evaluate the effects of income tax reforms in Colombia.07Increasing returns in human capital accumulation and public funding of educationStudies public funding of education and growth when human-capital accumulation exhibits increasing social returns.02
Articles and chapters
01Asset Value and Securitization under Heterogeneous BeliefsAnalyzes how securitization affects asset values and realized excess payoffs when investors hold heterogeneous beliefs.Latest version (PDF) SSRN Computational companion Read online and explore equilibria
02La tributación de las empresas en Colombia: ¿es equitativa?In Repensando la Justicia Tributaria: Perspectivas desde América Latina, chapter 6, pp. 127-141. Published in Spanish.03La tributación en impuesto sobre la renta por actividad económica en Colombia: descripción a partir de la tasa efectiva de tributaciónCoyuntura Económica: Investigación Económica y Social, pp. 61-82. Published in Spanish.04Mandatory Retirement Savings in the Presence of an Informal Labor MarketShows how mandatory retirement savings can induce some workers to work informally and save less.05More than an urban legend: the short- and long-run effects of unplanned fertility shocksStudies the short- and long-run effects of unplanned fertility shocks associated with Colombia's 1992 power rationing.06A note on “Evolution of Preferences”Extends an evolutionary game-theory model to study stability when signals about preferences are imprecise.07Élites innovadoras y difusión tecnológicaStudies how lags in technology diffusion link long-run growth to the innovative propensity of an elite. Published in Spanish.08Matrices de Contabilidad Social 2003, 2004 y 2005 para ColombiaPresents the methodology and construction of social accounting matrices for Colombia for 2003, 2004, and 2005. Published in Spanish.09Acumulación de capital humano y gasto público en educación: un modelo de generaciones traslapadas para ColombiaEvaluates the effects of public education spending on growth and welfare using an overlapping-generations model. Published in Spanish.10Colombia y el TLC: Efectos sobre la Distribución del Ingreso y la PobrezaSimulates the effects of the Colombia-U.S. free trade agreement on inequality and poverty. Published in Spanish.