Documento de Trabajo

Policy-Driven Productivity in Chile and Mexico in the 1980s and 1990s

Both Chile and Mexico experienced severe economic crises in the early 1980s, but Chile recovered much faster than did Mexico. Using growth accounting and a calibrated dynamic general equilibrium model, we conclude that the crucial determinant of this difference between the two countries was the faster productivity growth in Chile, rather than higher investment or

Could Higher Taxes Increase the Long-Run Demand for Capital?: Theory and Evidences for Chile

Is a tax increase always detrimental for capital formation? This paper estimates a long-run demand for capital in Chile, and studies the responsiveness of firms’ desired capital stock to variations in tax rates. We combine the neoclassical model with a cointegration argument to obtain a long-run demand for capital that is valid for a general

Why Do We Need Antidumping Rules?

We show that the inclusion of antidumping (AD) and countervailing subsidy (CVD) regulations can increase the range of feasible preferential trade agreements (PTA), given that governments are sensitive to pressure groups defending import competing industries. AD and CVD regulations serve as an «escape valve» for pressure groups affected by the PTA in some states of

Método de selección y resultados académicos: Escuela de Ingeniería, Universidad de Chile (Selection Method and Academic Results: Engineering School, University of Chile)

Estudiamos la capacidad predictiva del rendimiento académico de las distintas componentes del sistema de selección a las universidades para los alumnos de la Escuela de Ingeniería de la Universidad de Chile. Nuestros resultados indican que las notas de educación media y las pruebas específicas de física y matemáticas tienen una capacidad predictiva importante y estable,

Análisis Económico-Descriptivo de las Regiones Chilenas (Economic-descriptive analysis of the regions of Chile)

Este trabajo proporciona un análisis económico-descriptivo de las regiones de Chile, en términos de Producto Interno Bruto Regionalizado, exportaciones y población, para el período 1985-1999.Los principales resultados observados son los siguientes:a. Hay un notorio diferencial en el nivel del PIB per cápita de las regiones. El PIB per cápita de la II Región -la de

El Rol de las Exportaciones en el Crecimiento Económico Regional (The Role of Exports on Regional Economic Growth)

Varios estudios han encontrado que las exportaciones juegan un rol fundamental en la economía chilena,pero ¿cómo es este rol a nivel específico en cada una de las regiones del país?, ¿cuál es el efecto empírico en términos de crecimiento económico, el hecho de que una región se oriente en mayor grado al mercado externo? El

Privatizing roads: An “old” new approach to infrastructure provision

During most of the twentieth century, highways, tunnels and bridges were viewed as public goods that had to be provided by the government.By the end of the century, however, chronic budgetary problems had led governments to allow participation of private firms in financing, building,and operating infrastructure projects. For example, worldwide private invest-ment in transport infrastructure

El Cobre Chileno y la Política Minera (Chilean Copper and Mining Policy)

En este artículo se proporciona una breve síntesis histórica de este tema para conectar la discusión presente con la del pasado. En la primera parte hay una revisión compacta del debatehistórico. Esto incluye la interrogante permanente sobre la importancia del cobre para Chile; esto se complementa con las estadísticas pertinentes sobre el rol del cobre

The Effects of Privatization on Firms and on Social Welfare

In this study we analyze the Chilean privatization process as a whole. Since it has been a wide-ranging process, we examine its different aspects. After a historic review of the privatization pro-cess,we study the 37 Chilean State Owned Enterprises (SOE’s) that were privatized during the period 1981-2000 and for which pre-privatization and post-privatization financial, employment

Corporate Diversification: Good for Some Bad for Others

In this paper a model based on conflicts of interest between shareholders, the CEO and divisional managers is developed to explain why corporate diversification is good for some firms and bad for others.It is shown that when the decision to diversify is endogenous, whether diversification destroys value depends on the severity of con‡icts of interests

Evaluación de la Regulación de las Telecomunicaciones en Chile (Evaluation of Telecommunications Regulations in Chile)

Desde su privatización, las empresas de telecomunicaciones han aumentado la cobertura de los servicios, así como su eficiencia interna. Luego de la desregulación de los servicios de larga distancia, las tarifas cayeron fuertemente y algo similar ocurrió con telefonía móvil, después de que el número de operadores aumentara de dos a cuatro. Sin embargo, la

Compensation Methods in a Competitive Labor Market: the Role of Asymmetric Information

In this paper we develop an asymmetric information model that provides a rationale for the existence of pay-for-performance contracts in the absence of incentive for effort and explainswhen and in which occupations pay-for-performance is more likely to be observed. In our model competition among firms for the best workers forces firm to link pay to