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Exchange rate interventions and insurance: is fear of floating a cause for concern?
Fear of floating has recently come to be seen as one of the central de facto characteristics of exchange rate regimes in emerging markets, after first being identified by Calvo and Reinhart (2002). The interpretation of this phenomenon is still open to question. Does the optimal monetary regime for ...
General equilibrium dynamics of external shocks and policy changes in Chile
This paper explores Chile’s macroeconomic dynamics with the help of a general equilibrium model parameterized for the Chilean economy. The model is based on microanalytic foundations, and its basic relations are derived from intertemporal optimization by a group of forward-looking agents endowed with ...
Estimaciones de los determinantes del ahorro voluntario de los hogares en Chile (1988 y 1997)
En la literatura sobre ahorro (consumo) coexisten un conjunto amplio de estudios que utilizan información agregada con un grupo de investigaciones y metodologías que usan datos de origen microeconómico. Lo anterior se explica porque el estudio empírico del ahorro plantea el dilema de ocupar datos ...