Buscar
Mostrando ítems 11-20 de 65
Credit stabilization through public banks: the case of Banco Estado
A novel element in the policy mix that responded to the 2008- 2009 financial crisis was the explicit role given to BancoEstado a publicly-owned commercial bank to alleviate the contraction in domestic credit provided by the banking sector. In order to aid its mission BancoEstado was capitalized by 500 ...
Microeconomic flexibility in Latin America
Latin American economies have begun to leave behind some of the most primitive sources of macroeconomic fluctuations. Policy concern is gradually shifting toward increasing microeconomic flexibility. This is a welcome trend since microeconomic flexibility, which facilitates the ongoing process of ...
External conditions and growth performance
A central dimension of globalization is the world trend toward larger trade and financial openness, observed in most industrial and developing economies. Openness increases the integration of world goods and capital markets, contributing to potential gains in growth and welfare. However, increased ...
Transmisión de shocks y acoplamiento con mercados accionarios externos: efectos asimétricos y quiebre estructural
Analizamos la transmisión de shocks desde los principales mercados bursátiles desarrollados —Tokio, Nueva York, París y Frankfurt— hacia el mercado de Santiago, controlando por el de Sao Paulo. Nuestra investigación se concentra en los episodios de 2007 y 2008, donde la transmisión pasó desde los ...
Evidencia microeconómica de rigideces nominales de salarios en Chile
Este documento presenta nueva evidencia sobre la frecuencia de ajuste de los salarios en Chile y sus determinantes. Los datos utilizados provienen de una base de datos construida a partir de información recolectada por la Asociación Chilena de Seguridad (AChS). La base se compone de un panel de 429 ...
Dinámica de ajuste de precios: evidencia de datos microeconómicos para Chile
Este trabajo caracteriza la dinámica de ajustes de precios en Chile usando datos a nivel de establecimientos para los productos de la canasta del IPC. Nuestros resultados muestran que las rigideces nominales son más bajas cuando están medidas a nivel microeconómico que cuando están estimadas con datos ...
Latin America's access to international capital markets: good behavior or global liquidity?
Latin America has had an active presence in international markets since independence in the early nineteenth century. Participation has been quite volatile, though. International borrowing financed the wars of independence in the early 1800s, but the boom that started in 1822 with a loan to Colombia ...
The effects of business cycles on growth
This paper explores the links between business cycles and long-run growth. Although it is clear from a theoretical point of view that both of these phenomena are driven by the same macroeconomic variables, the interaction between economic fluctuations and growth has been largely ignored in the academic ...
Valuation effects and external adjustment: a review
Ever since David Hume introduced his price-specie flow mechanism in 1752, the question of external adjustment has been a classic issue for international macroeconomists. In 1968 Robert Mundell asked “To what extent should surplus countries expand, to what extent should deficit countries contract?” ...
The wealth distribution in developed and developing economies: comparing the United States to Chile using survey data from 2007
Este estudio examina las distribuciones de ingreso, activos, endeudamiento y riqueza en Chile, utilizando datos de la Encuesta Financiera de los Hogares de 2007. Se detalla la desigualdad a nivel agregado y también por una variedad de subgrupos, tales como edad, género, tipo de hogar, tipo de empleo ...