This paper is aimed to analyse in a dymanic context, the aggregate behaviour of the Chilean stock market. The theoretical framework in which this study is based on, hinges upon the view that asset prices relate to a number of state variables, which captur

This paper deals with the long run relationship between exports, outward orientation and growth. The basic hypothesis impinges upon the new generation of endogenous growth models, which provides the theoretical framework to link trade policies with total

The paper attempts to explain the sharp increase in the Chilean domestic saving rate. It addresses the issue from different angles. It estimates the series for the period 1960-1994 for domestic saving and its main components (public and private saving and within the latter, household and...

The paper analyses the behavior of quarterly nominal wages in Chile between 1980.3 and 1995.3. The aim is to estimate a long run wage relationship that allows to identify periods of wage disequilibria. A vector autoregressive model is estimated with Johan

Desde mediados de los ochenta, cuando la economía se encontraba sumida en la crisis de la deuda, el ahorro y la inversión en Chile aumentaron dramáticamente. El ahorro lo ha hecho aún más que la inversión, revirtiendo el fuerte uso de recursos externos para financiar los niveles...

This paper is intended to analyze, in a comparative perspective, the financing mechanisms of urban local governments in two groups of countries. The first group refers to a sample of OECD countries. They are rather decentralized, and have institutional features which date back many years from...