In the early 1980s Chile reformed its electricity sector, introducing a regulatory framework that became influential worldwide. But in 1998 and 1999 La Nina brought one of the worst droughts on record, causing a price system collapse, random power outages, and three-hour rotating electricity...

In the early eighties Chile completely reformed its electricity sector, introducing a regulatory framework that became extremely influential in the rest of the world. In 1998 and 1999, however, when the La Niña phenomenon brought one of the worst droughts on record, the price system collapsed....

We study regulatory incentives and governance during the 1998-1999 electricity shortage in Chile. We argue that it was feasible to manage the shortage with no outages. The outages can be blamed on the rigid price system and deficiencies in regulatory governance, which led to a weak regulator...

This paper reviews the Latin American experience with highway privatization during the last decade. Based on evidence from Argentina, Colombia and Chile, we find that private financing of new highways freed up fewer public resources than expected because public funds were often diverted to bail...

In the early 1980s Chile reformed its electricity sector, introducing a regulatory framework that became influential worldwide. But in 1998 and 1999 La Ni?a brought one of the worst droughts on record, causing a price system collapse, random power outages, and three-hour rotating electricity...

The 2004 election has been interpreted as a resounding victory for conservative values. Was it in fact a mandate? The present analysis examines recent electoral outcomes and the 2004 election with particular reference to economic and political fundamentals. Looking at both aggregate results and...

This paper uses data from the implementation of a district-wide public school choice plan in Mecklenburg County, North Carolina to estimate preferences for school characteristics and examine their implications for the local educational market. We use parental rankings of their top three choices...

The present study examines the importance of Schumpeterian profits in the United States economy. Schumpeterian profits are defined as those profits that arise when firms are able to appropriate the returns from innovative activity. The paper derives the underlying equations for Schumpeterian...

We study semiparametric efficiency bounds and efficient estimation of parameters defined through general nonlinear, possibly non-smooth and over-identified moment restrictions, where the sampling information consists of a primary sample and an auxiliary sample. The variables of interest in the...