The last financial crisis revealed that financial imperfections and institutions play a more important role than the literature has assigned them for a long time, and it is possible to ascertain strongly that in the coming years macroeconomic research will be dominated by the study of the...

With real-time data it is analyzed what information Chile’s monthly indicator of economic activity (IMACEC) contains about the final GDP, defined as the growth rate that has been subject to at least two annual revisions. Data are presented and revisions briefly analyzed. It is argued that when...

En este trabajo se describe la Encuesta de Expectativas Económicas (EEE), la que ha sido elaborada mensualmente por el Banco Central de Chile desde el año 2000. En los primeros años el cuestionario sufrió varios cambios pero, salvo modificaciones menores, mantiene su forma actual desde...

El documento presenta una caracterización del sector de las empresas privadas no financieras (SEPnF) de Chile en base a información de sus activos, pasivos, ingresos, gastos y empleo. En el año 2008, este sector representaba un 70% de la producción nacional. De este porcentaje,...

This paper describes the main regulatory changes regarding the provisions for credit risk in the local bank industry. In doing so, this article focuses its analysis in the 1975 - 2014 period, were some major advances and regulatory changes occurred; not only in the regulation of credit risk...

In this paper we study the role played by capital controls (CC), the flexibility of the exchange rate regime (FERR) and the stock of assets held abroad (AA) in reducing the volatility of capital flows. First, following Forbes and Warnok (2012), we study the impact of CC, FERR and AA on the...

In this paper, we apply a multivariate method to classify banks according to their degree of similarity, known as cluster analysis. Using balance sheets data for the period 2008-2013 on a set of 23 banks in Chile, we find that the banking industry can be clustered into seven groups of...

Could prudential policies backfire by making the lack of commitment problem of bailouts worse? This commitment problem refers to the excessive risk taken by banks and financial institutions in expectations of bailouts if crises occur, which in turn increase financial fragility and the severity...

In 2014, the National Statistical Institute of Chile (INE) presented the Consumer Price Index (CPI) Methodology Manual with annual base 2013=100. In order to provide to the public extended series, consistent with the new series, this paper presents the results of a statistical linking exercise...