Documento de Trabajo

Franchising of Infrastructure Concessions in Chile: A Policy Report

This report describes and evaluates the present state of the Chilean infrastructure concessions program. This program is leading to a complete upgrade of Chile`s highway system and has been recently extended to seaports. The main principles underlying the economics of franchising are examined and used to evaluate the programof privatizations of highways and seaports. Compared

Decisions to Replace Consumer Durables Goods: An Econometric Application of Wiener and Renewal Processes

Current sales of most consumer durable goods are accounted for by replacements. However, only in recent years has the economic literature provided a more rigorous analysis of replacement purchases by incorporating elements of dynamic programming and of the theory of stochastic processes. This paper is an empirical study of household replacement decisions modeled as an

Regulating the Electricaly Sector in Latin America

During the past decade most Latin American countries reformed and liberalized their electric sectors. This paper examines these reforms, providing a critical examination of the effects. Late reformers learnt from the experience of earlier reforming countries, and in particular from the Chilean experience. This evolutionary process has meant less regulation of segments that are or

Relationships, Competition, and the Structure of Investment Banking Markets

Previous studies have acknowledged the tradeoff between relationships and competition in financial intermediation. In this paper, we explore the structural determinants of this tradeoff in the investment banking market, by deriving it from the underlying relationship technology. In the model, each of several banks incurs a sunk cost to establish a relationship with the same

Análisis Económico de la política en educación superior en Chile (Economic analysis of Chile’s post-secondary education policy)

El artículo presenta una descripción de las políticas, logros y problemas de la educación superior en Chile en los últimos veinte años. Desde los ochenta se ha fomentado el autofinanciamiento de la docencia, complementado con un sistema de crédito contingente a ingresos y un sistema de crédito privado con seguro público, que ha permitido que

Female Labor Supply in Chile

The aim of this study is to analyze female labor supply in Chile and explain its peculiarities: the difference between female and male participation, and the pattern of female participation rates according to household income levels. To analyze the factors that affect the behavior of the female labor participation rate, we first estimate a labor

Impuestos y demanda por capital: Teoría y evidencia para Chile (Taxes and capital demand: Theory and evidence for Chile)

Este trabajo estima una demanda de largo plazo por capital en Chile, lo que permite estudiar la sensibilidad del stock de capital deseado por las empresas ante variaciones de las tasas de impuestos. El enfoque utilizado combina el modelo neoclásico de Jorgenson con un argumento de cointegración para obtener una demanda por capital de largo

Análisis historicográfico de la literatura económica chilena (Historiographical analysis of Chilean economic literature)

Santiago is one of the few Latin American cities that has had four specialized economic journals during more than a decade. The paper authors include the most distinguished academin economists. This article examines the evolution of this academic production during 1963-1996. The type of issues and their distribution among the papers constitute the focus af

Remuneraciones y los profesores en Chile (Wages and teachers in Chile)

El objetivo de este estudio es analizar los salarios de los profesores en Chile, comparándolos con los de individuos con características similares que se desempeñan en otras ocupaciones. Para ello se utiliza la Encuesta de Caracterización Socioeconómica (CASEN) de 1998. Sus resultados, permiten concluir que el problema fundamental de las remuneraciones de los profesores en

Política económico-social y bienestar: El caso de Chile (Economic and social policy and well-being: The case of Chile)

Este trabajo presenta una descripción de los principales lineamientos que ha tenido la política económica y social chilena durante el período 1980-1997, centrándose en la política social de la última década. Durante los ochenta, el énfasis se dirigió hacia políticas de recuperación económica, liberalización, descentralización y asistencialidad social. Por su parte, durante los noventa se

Una revisión de la reforma del sistema escolar en Chile (A review of school reform in Chile)

Este artículo describe los principales componentes de la reforma del sistema escolar chileno, así como sus antecedentes fundamentales, y evalúa los principales desafíos pendientes. La primera parte describe los principales componentes de los programas de mejoramiento del sistema escolar y sus fundamentos teóricos. Se analizan también los cambios relacionados con la gestión y el financiamiento

Education and Income Distribution: New Evidence from Cross-country Data

This paper presents empirical evidence on how education is related to income distribution in a panel data set of a broad range of countries for a period between 1960 and 1990. The findings indicate that education factors – higher attainment and more equal distribution of education – play a significant role in making income distribution