This paper studies the effects of exchange rate interventions using daily and intraday data for Chile, from 1998 to 2003. Its main contribution is the recognition of the role played by transparency and public announcements in the success of the intervention policy, through the existence of an...

Este artículo estudia el efecto de las intervenciones cambiarias realizadas por el Banco Central de Chile sobre la paridad peso/dolar, utilizando datos diarios de intervenciones entre 1998 y 2003. Estimaciones de series de tiempo con MCO (tras testear la existencia de exogeneidad débil) y con...

Using daily data on intervention activities by the Central Bank of Chile between 1998 and 2003, this paper studies the impact of these actions on the peso/dollar exchange rate. First, results are obtained from an event study, finding no evidence of a significant effect of interventions on the...

This paper studies the effects of exchange rate interventions using daily and intraday data for Chile, from 1998 to 2003. Its main contribution is the recognition of the role played by transparency and public announcements in the success of the intervention policy, through the existence of an...

The first five years of the flexible exchange rate and inflation targeting regime in Chile have shown positive results. Inflation is under control, the exchange rate has moved with the external conditions, monetary policy has been countercyclical and the cycle has apparently smoothened. Even...

En muchos países se han efectuado reformas a los sistemas de pensiones, desde sistemas de reparto a sistemas de capitalización. Una de las principales características de estos sistemas de capitalización es que son de contribuciones definidas y los beneficios están fuertemente atados al...

Education policies targeted at the worst performing schools are controversial. Its positive discrimination nature has been debated, while the lack of serious empirical evaluation has frozen the discussion at a highly theoretical level. The biggest problem has been to identify unbiased effects,...

The first five years of the flexible exchange rate and inflation targeting regime in Chile have shown positive results. Inflation is under control, the exchange rate has moved with the external conditions, monetary policy has been countercyclical and the cycle has apparently smoothened. Even...

(Disponible en idioma inglés) Los primeros cinco años del régimen de tipo de cambio flexible y la fijación de metas inflacionarias en Chile han arrojado resultados positivos. La inflación está controlada, el tipo de cambio ha evolucionado a la par de las condiciones externas, la política...