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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 ...
Financial diversification, sudden stops, and sudden starts
The financial crises of the second half of the 1990s have led to renewed interest in the causes and consequences of international capital flows. Sudden stops, defined as large drops in net capital inflows, have received particular attention, given the collapses in output and investment commonly ...
Currency mismatches in chilean nonfinancial corporations
The potential financial vulnerability that can occur when private sector or government agents acquire high levels of foreign currency debt has been at the center of discussion since the financial crises that affected the countries of Southeast Asia in the late 1990s. To the extent that a mismatch is ...