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dc.contributor.authorRojas Gutiérrez, Patricio
dc.contributor.authorBerríos, Félix
dc.coverage.spatialCHILEes_ES
dc.date.accessioned2019-11-01T00:06:59Z
dc.date.available2019-11-01T00:06:59Z
dc.date.issued2015
dc.identifier.isbn978-956-7421-48-0
dc.identifier.urihttps://hdl.handle.net/20.500.12580/3828
dc.descriptionChile’s exchange rate shows a strong volatility to copper price fluctuations. This correlation is essentially because copper is our main export product therefore increases in the price of copper imply higher returns from copper export volumes both for private and the stateowned mining company Codelco. However from the early 2000s the Chilean state has used a concept of structural balance for its public accounts defining ex ante a copper price in order to formulate its budget spending. Thus increases above this price should not have a significant impact on the peso-U.S. dollar parity since most of the surplus revenue from higher copper prices would be saved overseas. Furthermore in general private mining companies do not bring into the country additional surplus revenues obtained from copper prices higher than what had been in their budget forecasting.
dc.format.pdf
dc.format.extentSección o Parte de un Documento
dc.format.mediump. 195-228
dc.language.isoeng
dc.publisherBanco Central de Chile
dc.relation.ispartofSeries on Central Banking Analysis and Economic Policies no. 21
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Chile*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/cl/*
dc.subjectTIPO DE CAMBIOes_ES
dc.subjectPRECIOSes_ES
dc.subjectCOBREes_ES
dc.subjectEXPORTACIONESes_ES
dc.titleExchange rate structural fiscal balance and copper price: a puzzle
dc.type.docArtículo
dc.file.nameBCCh-sbc-v21-p195_228


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Attribution-NonCommercial-NoDerivs 3.0 Chile
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