This paper provides, via Monte Carlo simulations, estimates of the classical probability of overfitting under an autoregressive environment (AR), using the information criteria (IC) of Akaike, Schwarz and Hannan-Quinn (AIC, BIC and HQ), calibrated with Chilean data of total inflation, core...

This work investigates the determinants of the behavior on the long time of the total poverty in Venezuela during the period 1975-2000. Series of time are utilized and applies an analysis of multiple lineal regression. The empirical results indicate that an increase of the 1% in the rate of...

In this paper I find evidence of a structural change in the labor demand in Chile in 2001. The break is mainly characterized by an increase in the employment-GDP elasticity. Additionally, separating labor demand by sectors, I find evidence of a stronger negative impact of the minimum wages on...

This paper studies the dynamics of the real exchange rate (RER) in Chile between the years 1986-2008, finding robust evidence of a structural break in its path around the year 1997. The cause is attributed to strong shocks in their long-term fundamentals, due to major structural changes in the...

This review of the book by Thomas Piketty, the capital in the XXI century, presents the central themes of the work and exposes its scope on the relationship between inequality and wealth. In particular a positive reflections on the progressive tax is added.

We search for evidence against the hypothesis of a non-linear relationship between inflation and growth rates for 1993-2012 Peruvian data. A family of dichotomous models provide the way to model the relationship between the those two variables' cycles. Given the acceleration/de-acceleration...

Three well-known single equation cointegration tests are employed to test for purchasing power parity (PPP) in updated version of the data set developed by Taylor (2002). Results of the tests differ somewhat. The Engle-Granger two-step procedure indicates substantial support for PPP with respect...

Se presenta una introducción a la teoría de control óptimo estocástico y sus aplicaciones en el marco del problema de selección óptima de portafolios.

This paper reviews the possibility that Harvard barometers would have enabled to predict the Great Depression. Based on data from the ABC curves in August 1929, could have been foreseen the collapse of the stock market and the dramatic fall in economic activity?. It is now accepted that Harvard...

The present project is related in the measurement of the risk and the improvement of the processes of monetary species. The main objective is to offer a methodology in the tickets administration because understanding of history is a situation that becomes in an advantage on the opportunities at...