SMEs pay more for credits than large firms, their loans tend to be granted against collateral and on short repayment terms, and many are redlined. These practices have usually been interpreted as financial-market imperfections that discriminate against SMEs. We argue that they are responses to...

En este trabajo estimamos la demanda residencial por energía eléctrica con un panel de 18 distribuidoras de electricidad con datos mensuales entre enero de 1995 y diciembre de 2001.  La elasticidad—precio de la demanda residencial por energía eléctrica es -0 ,0548 en un mes y -0 ,39 en el...

Las pyme pagan más que las empresas grandes por su financiamiento, se les exigen garantías, se las financia a plazos cortos y muchas no se pueden endeudar. Se piensa que estas prácticas son fallas de mercado que deberían corregirse con intervenciones regulatorias. Sin embargo, nosotros...

We estimate the demand for electricity by households in Chile. We use a monthly panel of 18 distribution companies, which starts in January 1995 and runs through december 2001. The one-month price elasticity of demand is -0.0548 and -0,39 in the long run.

This paper estimates the residential outage cost in Chile’s Central Interconnected System (SIC), using consumer’s willingness to pay for energy. We first estimate the cost of reducing energy consumption efficiently, that is only the less valuable kWh (as indicated by the market demand curve)...