Examinando por Autor "Lochmüller, C. (Christian)"

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    Analyzing inflation: Measurement problems and trends
    (2014-05-15) Ardila-Restrepo, H. J. (Hermilson de Jesús); Lochmüller, C. (Christian); Peña-Palacio, J. A. (Juan Alejandro)
    As a consequence of the crisis of 2007/2008, which started in the United States of America within the financial sector and which then spread to the real sector, the governments of several countries had to bail out financial institutions and companies. Central banks, especially in the U.S. and Europe injected liquidity in large volumes into the markets in order to stabilize the financial sector, a process which might produce higher inflation. This article discusses how inflation is measured and found that the measurement does not include adequately the development of prices of financial assets. Furthermore, it discussed that money supply should include loans, as credit serves as money and has an impact on inflation. One of the main conclusions is that there is a real possibility that inflation rates will increase in the medium term future.
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    Aplicación de la gestión de riesgos en los principales procesos de una pyme comercializadora
    (2014-05-15) Hernández-García, Y. M. (Yudy Marcela); Lochmüller, C. (Christian)
    This paper proposes for SME s in Medellín a scheme fora risk management that is based in process management. Through a survey the structures and processes that are typically applied in trading SME s to manage risks are identified and analyzed. The survey revealed that most SME s in Medellín currently do not manage their risks related to the business and also that these SME s still know very little about the subject of risk management. Based on the results of the survey and supported by the judgment of two experts and the support of both a small and a medium sized company, a risk management system will be proposed that takes the specific aspects of SME s trading in Medellín into account. Finally, a conclusion is that the SME s can improve their risk management by implementing the proposed scheme in order to avoid losses.
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    Información, conocimiento y desarrollo económico
    (2014-05-12) Lochmüller, C. (Christian)
    Production of information and knowledge is booming. Access to and availability of information and knowledge are better than ever before. However, we can observe companies and countries which use existent knowledge more effectively than others. This paper describes the role of information and knowledge in economic theory, discusses the difficulties of transferring knowledge and analyses the fact that in many cases created knowledge does not get introduced to markets. Innovation and entrepreneurship are the missing link that should be strengthened in order to transform knowledge into new products, processes, services, and markets. That is why changes are necessary within companies as well as in the education system in order to apply and commercialize more of the generated knowledge.
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    La medición del riesgo crédito en Colombia y el Acuerdo de Basilea III
    (2014-05-14) Álvarez-Franco, S. I. (Sara Isabel); Lochmüller, C. (Christian); Osorio-Betancur, A. (Alejandra)
    The financial crisis of 2008 has had a strong impact on the financial systems and economies worldwide, which induced an evaluation period of the global financial regulation framework in order to determine what updates should be made to previous regulations. As a result the Basle III Accord was published in December 2010 internationally. This article presents and analyzes from a Colombian perspective the changes that Basle III defines and argues that some of the changes are useful and necessary, also in Colombia, but the agreement falls short in some aspects, especially in times of stress.
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    Propuesta de un índice de capitalización bursátil para la bolsa de valores MILA
    (2014-05-15) González-Jiménez, J. C. (Juan Camilo); Lochmüller, C. (Christian); Yarce-Vélez, R. (Ricardo )
    Since the middle of 2010 meetings were held regarding the creation of a new market that involved and integrates three major Latin American economies with the objective to facilitate trading between these three countries and in order to generate opportunities to invest in a wider market and to stimulate investment in emerging economies. This development justifies the proposal of an index which reflects the movement of price of the most representative stocks that are traded in the new MILA (Mercado Integrado Latinoamericano) market. This article is a result of thesis which was developed during the second half of 2011 at the undergraduate level and that proposes the development of a stock market index called "MILCA P". The proposal is presented in three parts. The markets of the three countries that participate in MILA are analized, the concepts to build an undex are analized and some of the existing indexes, that serve as a reference described. The methodologies for the construction of the porposed index are outlined, as well as the parameters and variables that are used in its construction. the index is constructed by using historical data that start from the first of June 2006, from a baseline of a 1000 points, and that comprise a period of five years, taking into account each date for rebalancing and for the selection of the stock basket. Finally, the validation and the obtained results for the proposed index are presented.
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    El Riesgo del endeudamiento: La Crisis de la Deuda Soberana y posibles implicaciones
    (2014-05-14) Ardila-Restrepo, H. J. (Hermilson de Jesús); Lochmüller, C. (Christian); Peña-Palacio, J. A. (Juan Alejandro); Márquez-Godoy, J. I. (Jose Ignacio)
    Due to the global financial crisis unleashed between 2007 and 2008 and which quickly spread to the real sector, many governments did come out to rescue banks, significantly increasing their debt levels and, in particular, debt sovereign. Thus, many countries have reached unsustainable levels of debt, so that central banks injected liquidity to markets and expanded its balance sheet to buy assets of countries and companies in crisis, in order to ensure the smooth functioning of financial system. That is why in this article provides an analysis of the levels of borrowing countries as a result of this process, and presents a series of reflections about the impacts and the consequences that these may have in the short and medium term, especially in predicting the magnitude of these impacts.