Heat olive oil in a large skillet over medium-high heat. Add ground beef and cook, breaking it apart with a spoon, until fully browned. Drain off any excess fat.

Reduce heat to medium. Add diced yellow onion, minced garlic, and diced red bell pepper to the skillet. Cook for 5-7 minutes, or until vegetables have softened.

Stir in the tomato paste, ground cumin, smoked paprika, dried oregano, salt, and black pepper. Cook for 1 minute, stirring constantly, to toast the spices.

Pour in the beef broth. Bring to a simmer and cook for 2-3 minutes, or until most of the liquid has evaporated and the mixture is thick. Remove from heat and let the filling cool slightly while you prepare the crusts.

Preheat your oven to 400°F (200°C). Line a large baking sheet with parchment paper.

Carefully unroll one pie crust on a lightly floured surface. Using a 2.5 to 3-inch round cookie cutter (or the rim of a glass), cut out as many circles as possible. Gather the scraps, gently re-roll them, and cut out additional circles until you have used most of the dough. Repeat with the second pie crust. You should get approximately 10-12 circles in total.

Place about 1 tablespoon of the cooled beef filling onto one half of each pastry circle. Do not overfill. Lightly moisten the edges of the pastry with a little water using your fingertip.

Fold the empty half of the pastry over the filling to form a half-moon shape. Press the edges together firmly to seal. Use a fork to crimp the edges, ensuring a tight seal and creating a decorative pattern.

Place the assembled empanadas on the prepared baking sheet.

In a small bowl, whisk together the large egg and 1 tablespoon of water to create an egg wash. Brush the tops of each empanada with the egg wash for a golden, shiny crust.

Bake for 18-22 minutes, or until the empanadas are golden brown and puffed. Let cool on the baking sheet for a few minutes before serving.