This paper presents new sector saving series for Chile. The annual series for 1960-1997 are disaggregated by six sectors: external sector, general government, public enterprises, central banks, private firms, and households. Household saving is disaggregated into mandatory pension saving and...

In this paper I develop a small open economy model that is characterized by existence of two domestic sectors. Together with a home traded goods sector we incorporate a non-traded goods sector. In both sectors prices are sticky, and each one is subject to a specific productivity shock. In this...

We empirically assess the contribution of international reserves vis- à -vis institutional variables in reducing the risk of a currency crisis. We find that the ratio of reserves to short-term debt is robust in explaining international crisis, even after controlling for financial development...

This article presents an empirical study of the effect of unemployment on aggregate consumption of non-durable goods in Chile (1990-2002). Using an error-correction model, the results show that unemployment lags have a negative and statistically significant sort-run impact on consumption growth....