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
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
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
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
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
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
In many sectors property rights over knowledge and information are weak as they are embodied in employees, competitors can copy or customers can pirate. Yet comprehensive studies show that firms systematically invest in these assets. We offer a simple taxonomy of strategies that firms use to cope with weak property rights. We classify these strategies
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
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
El artículo presenta los elementos conceptuales necesarios para comprender el rol económico del estado y del sector privado en educación. Posteriormente describe las ventajas y defectos de la gestión de establecimientos educacionales tanto por parte de agentes privados como de agentes públicos, así como los beneficios y problemas de la competencia y el financiamiento público
