Using data of Chilean exporting firms, this paper studies the effect of the financial crisis on the extensive and intensive margin of export in the aftermath of the crisis. The negative effect of the crisis on exports is highly heterogeneous. The evidence shows that larger exporters, belonging...

This paper brings together the results from new empirical analysis on how – under international capital mobility – financial account structure and structural policies can contribute to financial stability. More specifically, the analysis has identified features of financial accounts and...

Este artículo estudia la interacción entre el ciclo económico y el mercado del crédito. Nuestra evidencia señala que los períodos de expansión económica gatillan en el mediano plazo, primero, aumentos de la cartera vencida, y luego, reducciones del crédito. Interpretamos este fenómeno...

This paper studies the interaction between the business cycle and the credit market. A first result is that the business cycle has procyclical effects on different types of credit (i.e., consumer, commercial and mortgage loans). The results area obtained through the identification of structural...