We formulate and solve a costly multi-unit search problem for the optimal selling of a stock of goods. Our showcase application is an inventory liquidation problem with holding costs, such as warehousing, salaries or floor planning. A seller faces a stream of buyers periodically arriving with...

In firms subject to tariff regulations, the authorities have developed “regulatory” accounting methods, to identify accepted costs and possible supernormal lrates of return. These methods are also useful in industries free from price regulation, because information about the economic rate of...

Este trabajo analiza el impacto sobre el stock de capital de largo plazo de la economía de la política de impuestos y subsidios a las empresas. El análisis asume que existen empresas con distintos niveles de eficiencia productiva en la economía. Esta característica pasa a ser crucial porque...

The paper explores the effects of the social security system over retirement and labor supply decision of individuals aged 55 to 65 in Chile. We use the 1998 CASEN survey elaborated by the Chilean government. Due to regulations established by the current social security law, two social security...

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...

A tradeable permits market is said to be efficient when all affected firms trade permits until their marginal costs equal the market price. Detailed firm-level data are generally required to perform such an efficiency test, yet such information is rarely available. If firms face a declining...