Devaluations have generally been traumatic episodes in the developing countries, often accompanied by political instability and upheaval. The purpose of this article is to evaluate the role of devaluations in the adjustment processes in Latin America and to determine why some devaluations seem...

During the last 50 years, Chile has been a social laboratory where almost every possible economic policy has been experimented. The most recent experience began in 1973, after the military overthrow of president Allende. In the 10 years following the coup, the military implemented deep reforms...

Examines the stabilization program and the employment problem, the exchange rate policy and the antiinflationary program, the liberalization of international trade, the domestic financial markets and the capital account of the balance of payments, the sources of growth between 1975-80 and the...

Der Artikel setzt sich mit dem Zusammenhang von politischer Instabilität und inflationärer Entwicklung in der Dritten Welt auseinander. Dem Ergebnis werden die Inflationserfahrungen im Rahmen von strukturellen Anpassungsprogrammen gegenübergestellt, wobei es insbesondere um die Rolle...

In 1981, Chile reformed its social security system. An inefficient and insolvent pay-as-you-go regime was replaced by a system based on indivudial retirement accounts. Over the years Chile's reform has been widely praised and has been carefully studied by policy makers throughout the world. This...