This paper analyzes the role played by BancoEstado in providing credit during the 2008-2009 financial crisis. An analysis of the data shows that BancoEstado increased its credit significantly, particularly in terms of loans to firms, increasing its market share and remaning profitable. A large...

Este trabajo evalúa los impactos de la política fiscal sobre la evolución de la actividad económica (PIB) en Chile. Los resultados del análisis dinámico con la metodología de VAR estructural indican efectos no keynesianos de la política fiscal. Un aumento (reducción) en el gasto fiscal...

The purpose of this paper is to introduce rational expectations in the empirical analysis of the demand for money. With quarterly data, from 1975 to 1981, a demand for money is estimated, using a variant of rational expectations to construct expected infl

This paper studies monetary policy in Chile during the 1986-1997 period. We concentrate in understanding the monetary transmission mechanism by which the Central Bank instrument—the real interest rate—affects total expenditure, output and the inflation rate. The methodology used is...