An endogenous growth model is presented in which the existence of credit markets affects time allocation of individuals who differ in education abilities. Credit markets allow the more able to specialize in studying and the less able in working. This specialization can increase growth and...

Poverty has declined substantially since 1987 in Chile. Has this reduction in poverty benefited all groups and regions? Are this specific sectors of the economy that have been left out of this reduction? These and other question are discussed in this paper. To do so, we characterize the poor in...

Este artículo tiene como objetivo ilustrar las diferencias en que se puede incurrir al estimar el aumento del costo de vida mediante el IPC, u otros índices de precios, con respecto al índice de precios verdaderos (IPV). Este índice es el que se debería usar si se quiere reajustar el...

This paper presents empirical evidence on how education is related to income distribution in a panel data set of a broad range of countries for a period between 1960 and 1990. The findings indicate that education factors - higher attainment and more equal distribution of education - play a...

Este trabajo presenta una descripción de los principales lineamientos que ha tenido la política económica y social chilena durante el período 1980-1997, centrándose en la política social de la última década. Durante los ochenta, el énfasis se dirigió hacia políticas de recuperación...

La inflación sus costos y como evitarla, son temas que han ocupado un lugar importante en la discusión y el análisis económico, en especial en países con historia de alta inestabilidad. Este trabajo comienza con una revisión de las principales razones de por qué existe inflación, para...

This paper analyzes exchange rate policies in Chile since the 1960s. A brief overview on main policies is presented. Particular attention is put into the two episodes of fixed-exchange rate as well as the reasons why policy makers may have arrived to those decisions. The paper also examines the...

In the last few years, and most recently with the crisis in Argentina, views about emerging markets and the international financial institutions have changed significantly. This paper reviews macroeconomic management in emerging economies and the role of the international financial institutions...