This paper puts forward an explanation for the negative elasticity of supply of beef found in many LDC's. As is explained by Jarvis (1974), the elasticity of supply of beef may be negative in the short run due to the dual role of cattle as both a capital and a consumption good. But in some...

Chile’s economic performance since the mid 1990s has been outstanding. Several reasons account for this success. The strong initial position of the economy was a crucial asset. Broad consensus on economic matters helped a lot. This paper argues that the i

Underdeveloped countries have heavily taxed their natural-resources based exports, with important consequences on investment and growth. It is difficult to understand the rationale behind these policies, specially after years of stagnation of the export s

The Chilean health system involves both the private and public sectors in the provision of insurance and health care. It is characterized by much wider private insurance coverage than in the rest of Latin America (at about 30% of population). The coexiste

In Chile, dependant workers are mandated to purchase health insurance and they can chose between one public provider and several private providers. Here, we analyze the relation between utilization and the choice of either private or public insurance. Independent workers, however, are not...

In this paper we look at the income distribution by cohort in Chile. We construct a synthetic panel from cross section surveys and estimate the income distribution for cohorts born between 1902 and 1978. We then decompose the evolution of these distributions into age, year and cohort effects....