Este artículo identifica y analiza las principales barreras a la entrada del mercado aéreo que la literatura considera como relevantes. Adicionalmente, se demuestra que ante la limitación exógena de insumos relevantes para operar en este mercado, la subasta por mayor precio no es el...

En este trabajo se estima un modelo dinámico de panel para explicar las diferencias en los precios de una canasta de alimentos en una muestra de 24 ciudades de Chile y se analiza el impacto que tiene la concentración en la industria de los supermercados sobre dichos precios. Los resultados...

It is well known that, under uniform impatience, positive net supply assets are free of bubbles for non-arbitrage kernel deflators that yield finite present values of wealth. However, this does not mean that prices cannot be above the series of deflated dividends for the deflators given by the...

This study measures the impact of changes in the income determinants on inequality in the 1990 to 2003 period, in order to answer the question of why income distribution as a whole has not changed. The methodology utilized is micro-simulations of income distribution, which is the most...

Chileans with more knowledge about the pension system more actively contribute toand manage their individual retirement accounts. This positive association betweensystem knowledge and retirement saving remains even after controlling for di¤er-ences in other relevant attributes, such as ?nancial...

This paper studies how the use of divestiture in merger control can affect the revelation of information about the level of efficiency gains that a proposed merger carries. We show that a decision policy that uses costly divestiture as a screening instrument presents superior results respect to...

This paper investigates the impact of PSP on the poor in the Colombian water sector in terms of access, continuity of service and affordability. Overall, the results indicate that PSP in the Colombian water sector has had a strong and positive impact on the poor as far as continuity of service...

When infinite-lived agents trade long-lived assets secured by durable goods, equilibrium exists without any additional debt constraints or uniform impatience conditions on agents' characteristics. Also, regardless of whether assets' net supply is positive or zero, price bubbles are absent when...

Este trabajo proporciona evidencia experimental acerca del supuesto efecto que genera estudiar y estar expuesto a la teoría Económica sobre dos dimensiones de la cooperación social: la confianza en los demás y la disposición a cumplir compromisos. Ambos aspectos se miden a través del...

Competition across money managers, along with market entry, in theory could ensure that capital market remains competitive. But in Chile, which has had a privatized pension system for 25 years, high rates of switching between the funds and little downward movement on fees, have been interpreted...