This essay presents the Keynesian and monetarist approaches to the effects of monetary policies on output and employment. The Keynesians argue that the monetary authorities could permanently increase output or employment by raising monetary growth, trading this off against a higher wage and...

This essay is an introduction to macroeconomics. It starts with a brief history of this branch of economic science from Petty, Cantillon and Hume contributions until the recent propositions of the so-called New “Classical” Macroeconomics. Certainly, it is also analyzed the classic,...

The utilities price regulation in the United States has historically been made by a state commission. Nevertheless, this regulatory system does not incentive cost controls within the utilities. In order to rectify this situation the regulatory commissions have changed their view to one of...

This article surveys some crucial trade off’s in the regulation of natural monopolies. The survey considers issues related to entry and price regulation with complete and incomplete information, the use of bids, and the election of regulatory schemes. In the tradition of the normative theory...

The present paper has been prepared as teaching material. We believe it can fill a vacum since to our knowledge no such a topic has been covered in certain detail in our country. Some recent discussion about the economic merits of the Preferential Trade Areas adds relevance to this topic. The...

In the last two decades, the Chilean health sector suffered a deep reform, establishing a new scheme with two sectors: the public health insurance and many private health insurance companies. This essay analyzes a especial outcome in the Chilean health insurance sector: the majority of the...

Different keynesian models of output and employment determination are examined in this essay: from simple keynesian model to models with social classes and two and three economic sectors. The last ones belong to Kalecki, Kaldor, Pasinetti and Nell. In all of these models the principle of...

This paper presents in the first place, Kemps contribution to the understanding of the effects of the presence of IRS on the H-O theory of trade. Then, following W. Ethier we present a view about the development of trade theory incorporating IRS. Later on we present the “integrated economy”...

This essay is concerned with the basic concepts of National Income and Product Accounts, which are used mostly for macroeconomic analysis. The Input-Output Accounts are also analyzed in order to discuss, once again, the different methods of GDP estimation. Moreover, Monetary Flows and Balance of...

From the Political Economy point of view, the big utilities-subsidized energy efficiency programs in the latest eighties and the former nineties, the capacity to use the utilities for this end depends ultimately on the institutional continuity of the regulated monopolies of the electricity...