Recent literature has emphasized the importance of transport costs and infrastructure in explaining trade, access to markets, and increases in per capita income. For most Latin American countries, transport costs are a greater barrier to U.S. markets than import tariffs. The authors investigate...

This paper develops a model showing that inefficient legal protections disproportionately increase financial restrictions for creditors that have less wealth. Due to fixed monitoring costs in equilibrium, banks will not monitor small firms, and therefore these firms will adopt risky technologies...

The relevance of transport costs has increased as liberalization continues to reduce artificial barriers to trade. Countries need to adopt policies to `get closer` to global markets. Can improvements in infrastructure and regulation reduce transport costs? Is it worthwhile to implement policies...

This paper develops a model showing that inefficient legal protections disproportionately increase financial restrictions for creditors that have less wealth. Due to fixed monitoring costs in equilibrium, banks will not monitor small firms, and therefore these firms will adopt risky technologies...

(Disponible en idioma inglés únicamente) Proponemos que los bancos extranjeros pueden representar un elemento de compensación cuando sus receptores son países en desarrollo. Se formula un modelo de cartera para mostrar que es posible que un banco internacional más diversificado puede...

This presentation discusses the authors' paper on the effects of open skies agreement. They explain how they estimate the effect of a change in Air Competition Regimes (OSA) on air transport costs, the effect of better infrastructure and Regulatory Quality on Air transport Costs, and the impact...

The relevance of transport costs has increased as liberalization continues to reduce artificial barriers to trade. Is it worthwhile to implement policies designed to increase competition in transport markets? Focusing on air transport, this paper quantifies the effects of liberalization of air...

En este artículo, documentamos los cambios en la tasa de desempleo distinguiendo entre movimientos en la demanda y oferta de trabajo. Para ello, primero investigamos si existe evidencia de cambios en la elasticidad empleo producto. En segundo lugar, se analiza si el fuerte crecimiento de los...

Unemployment is a pressing problem in many countries in Latin America. Financial crises and increased globalization increase job turnover and therefore the risk of unemployment. To protect workers, Chile implemented an innovative unemployment insurance (UI) system. UI protects workers but...

The Chilean system of housing finance is a mixture of public and private elements that has arguably been very successful. This paper provides an up- to-date review of the main instruments, actors, and government policies of the Chilean system of housing finance. It concludes that, while the...