Central bank authorities base implementation of monetary policy on an analysis of multiple variables known as monetary policy indicators. In a small open economy such as Chile, these indicators may include inflation misalignments, unemployment, GDP growth, money growth, the current account...

We explore the stabilizing effects of unemployment insurance in Chile. A dynamic general equilibrium model is calibrated for the Chilean economy for the 1960-2000 period. We assume that the economy is subject to exogenous technological shocks and that a fraction of the population is liquidity...

In this paper, we explore the effects of government subsidies (monetary and in-kind) in presidential elections in Chile in 1989-2000. Our dependent variable is the percentage of votes obtained by the incumbent. We use a panel with three periods (the elections of 1989, 1993 and 1999) and 228...

Along with several structural reforms, Chile embarked upon a major income tax reform in the eighties. Its basic feature was a significant reduction in the corporate income tax rate. The purpose of this paper is to investigate empirically the link between the tax reform and the investment...

The purpose of this paper is to analyze the productivity experience of Chile over the last four decades. The major determinants of productivity growth are identified and, given this context, the country’s strengths and weaknesses are assessed with regard to the factors behind productivity...

Esta obra es una publicación elaborada por el Banco Interamericano de Desarrollo para el diálogo de políticas con las autoridades de la República Dominicana. El objetivo de este trabajo consiste en contribuir a la profundización del análisis de algunos de los temas que integran la agenda...

After a decade and a half of economic growth above 7% per year, the Chilean economy has been growing at rates below 3% during the last five years. In this article we suggest that in order to produce a new surge in economic growth, Chile needs a productivity shock arising from economic policy...