Economic growth and macroeconomic stability do not, on their own, guarantee inclusive development. This article demonstrates this by analyzing Colombia’s economic transformation between 1905 and 1930. Although rising incomes and improvements in health and nutrition reflected the country’s economic growth and modernization, illiteracy, educational gaps, wage inequalities, and restrictions on…

The paper proposes an innovative, systematic, and reproducible framework for inflation forecasting using LLMs, demonstrating that the progressive incorporation of macroeconomic information, economic structure, and contemporaneous shocks can generate projections that are more dynamic and more consistent with real-time economic conditions.

Approach

In 2013, through Law 1636, Colombia established the Unemployment Protection Mechanism (Mecanismo de Protección al Cesante, MPC) to mitigate the economic effects of job loss and facilitate re-employment. The program provides, for up to six months, health insurance contributions, pension contributions, and family allowance benefits to formal workers who lose…