Chile has experimented with practically every type of industrial policy in the book: from heavy import substitution, public ownership of domestic firms, directed credit, and heavy use of development banking; to a completely free-market approach. After the liberalization and privatization of the...

We adapt the multidimensional poverty methodology to study job quality dynamics using a unique household survey panel for Chile. We use information on wages, type of contract, training and employment duration to build an aggregate job quality index. Panel data allow us to properly separate...

This paper presents evidence of an important decline during recent decades in the pass-through from the price of oil to the general price level. We find that this decline is a generalized fact for a large set of countries. After documenting correlations between the consumer price index and oil...

This paper is devoted to the construction of the panel and econometric use of the first labor panel database to study workplace creation and destruction in Chile. For local interest, the main feature of the paper is that it is the first time that representative and consistent series of creation...

Chileans have limited knowledge of the pension system, its rules and the consequences involved in their personal decisions within it. Using a variation in the household composition- having a pensioner in the household- as an instrument, we show that Chileans with more knowledge about the pension...

This paper studies three horizontal policy instruments and two vertical ones in Chilean industrial policy, particularly regarding small and medium enterprises (SMEs). The horizontal instruments are (1) a guarantee program for borrowing by SMEs (FOGAPE), (2) a small subsidy to new exports that...

Inflation targeters (ITers) have been very successful in meeting their inflation targets (ITs). Industrial output sacrifice during inflation stabilization and industrial output volatility has frequently been lowered after IT adoption. ITers have consistently reduced inflation forecast errors...

Chile was among the first countries to adopt an inflation target. Its long inflation history had led to widespread backward-looking indexation in goods, labour, and financial markets as well as in policy instruments. While indexation exacerbates inflation inertia, this paper provides evidence...

Indexation is common practice in both developed and developing countries. During recent years, however, many less developed economies that have implemented relatively successful stabilization plans, have included as part of the reform package wage nominalization and/or the use of the exchange...

Ten years of inflation targeting worldwide provide valuable lessons. Inflation targeters (ITers) have been very successful in meeting their inflation targets (ITs). Industrial output sacrifice during inflation stabilization and industrial output volatility has frequently been lowered after IT...