The issues of air pollution and traffic congestion in Latin America have been growing increasingly important since the end of the 20th century. The latter may help explain why several cities around the continent have tried different combination of public policies with vary-ing degrees of...

Este artículo hará un breve recuento histórico del tema de la protección a la libre competencia a nivel internacional y de la lógica de la acción pública para asegurar la libre competencia, para luego centrarse en la experiencia histórica de Chile, que en estricto rigor data en el mejor...

President Carlos Ibáñez del Campo came into power in 1952 to restore price stability and to end corruption. Soon, however, inflation was running at about 80 per cent per year and government invited Klein-Saks, the prestigious U.S. based consulting firm, to design and implement an...

Hacia fines del 2012 debe entrar en vigencia una nueva ley de pesca en reemplazo de la actual Ley No. 19.713. Varios analistas han argumentado que la nueva ley se debe hacer cargo, entre otras cosas, de la baja competencia en el sector y de la falta de entrada de nuevos actores. En este trabajo...

Within the context of the Permanent Income Hypothesis (PIH), the predictions for consumption depend crucially upon the process for income. In this paper, we consider an unobserved components model that allows for both asymmetric transitory movements and correlation between permanent and...

This paper shows that oil price changes, measured as short-term futures returns, are a strong predictor of excess stock returns at short horizons. Ours is a leading variable for the business cycle and exhibits low persistence which avoids the ctitious long-horizon predictability associated to...

Fiscal policy regimes based on a developed fiscal institutions and fiscal rules are increasingly adopted by governments that aim at stronger fiscal policy sustainability, more output stability, and more resilience of public finances to political pressure. This paper describes and evaluates...

The paper analyzes the effect of a reform granting alimony rights to cohabiting couples in Canada, exploiting the fact that each province extended these rights in different years and required different cohabitation length. A theoretical analysis, based on a collective household model with a...

This paper argues that legislative malapportionment, denoting a discrepancy between the share of legislative seats and the share of population held by electoral districts, serves as a tool for predemocratic elites to preserve their political power and economic interests after a transition to...