Documento de Trabajo

The Privatization of Social Services in Chile: an Evaluation

We examine the privatization of Chilean social services that began in 1981. We conclude that the reform has had a positive impact by providing competition to public providers (health and education) and insulation from political capture (pension funds). The major lesson, however, is that the full benefits from privatization-cum-competition are slow to arrive and require

Wealth Accumulation, Credit Card Borrowing, and Consuption-Income Comovement

Extremal Dependence in Exchange Markets

Exchanges rate markets exhibit correlation in the short run, but the issue is whether such correlation lingers over long periods of time, and under extreme events (i.e., either large appreciations or depreciations). In this paper, we analyze dependence between nominal exchange rates under extreme events for a sample of ten countries with dirty/free float regimes

Comparaciones Internacionales de la Dotación de Profesionales y la Posición Relativa Chilena (International comparisons of teacher supply and the relative situation in Chile)

El objetivo de este trabajo es aportar evidencia comparativa internacional para contribuir a dilucidar el tópico sobre la existencia de un déficit o superávit de profesionales (y técnicos) en Chile. Si bien el aspecto cuantitativo de la dotación de profesionales (y técnicos) es relevante, uno de los resultados centrales de este artículo plantea que el

Idiosyncratic Productivity Shocks and Plant-Level Heterogeneity

Using plant-level data on Chilean manufacturing firms for the 1980-99 period, we estimate and characterize disaggregate total factor productivity. We show that idiosyncratic productivity shocks are a quantitatively relevant source of the observed heterogeneity in the behavior of plants. Both exit and input demand decisions are correlated with our estimates of plant level productivity. We

Algunas Aplicaciones de Economía Ambiental en Chile (Some applications of environmental economics in Chile)

A Developing Country View on Liberalization of Tariff and Trade Barriers

The key issue of the Doha Development Agenda (DDA) is the following: What type of OMC rules would maximize the rate of development of developing countries? In this short note, we provide a short synthesis of developed countries disturbing trade barriers which affect negatively developing countries export growth. Also, we suggest some guidelines which would

Principios para Tarificar la Transmisión Eléctrica (Principals for the price fixing of electricity transmission)

El propósito de este artículo es establecer los principios económicos que deben regir el cálculo de las tarifas de transmisión de energía cuando se utiliza el modelo tradicional de peak-load pricing para tarificar la energía y la potencia. Los sistemas de transmisión cumplen tres funciones distintas: transportar energía, sustituir capacidad de generación y aumentar la

Labor Market Distortions, Employment and Growth: The Recent Chilean Experience

The per capita growth rate of Chile from 1984 to 1997 was among the highest in the world. During recent years, however, per capita growth dropped significantly. This paper discusses the role of factor accumulation and the efficiency with which factors are used, measured as total factor productivity (TFP), to explain the evolution of output

Una estimación del costo social de eliminar los déficit de abastecimiento eléctrico en el SIC (An estimation of the social cost of eliminating the deficit in the SIC’s electricity supply)

Este trabajo estima el costo social de eliminar los déficit de abastecimiento eléctrico en el SIC instalando capacidad adicional permanente. Utilizamos el modelo Omsic, lo que permite estudiar el efecto de la capacidad adicional sobre el uso del agua embalsada y el plan de obras.El costo de evitar los déficit agregando capacidad adicional permanente es

Elementos de la regulación de la actividad privada en educación (Regulatory elements of private activity in educations)

El artículo describe teóricamente los principales determinantes de la oferta y demanda de educación privada y los mecanismos por los cuales la política pública incide en este ámbito. Posteriormente resume los resultados de estudios de casos desarrollados para Argentina, Brasil, Colombia y Guatemala, enfatizando los desarrollos recientes de la política pública que afectan la actividad

The Derivatives Markets in Latin America with an Emphasis on Chile

Between the 1970`s and the 1980`s, the derivatives market flourished. Forwards,futures and options began to be regularly traded. According to information gathered by The Bank of International Settlements, at the end of April 2001 the value of over the counter(OTC) positions outstanding was over US$99 trillion, while the value of positionsoutstanding in organized exchanges was