Using the dating algorithm by Harding and Pagan (2002) on a quarterly database for 23 emerging market economies (EMEs) and 12 developed countries over the period 1980.Q1 - 2006.Q2, the authors proceed to characterize and compare the business cycle features of these two groups. They first find...

This paper reviews the design and operation of the Chilean fiscal rule in the past 30 years. Using different empirical approaches, we assess its impact on fiscal procyclicality, public debt, and public investment. While there has been substantial progress in building a modern institutional...

An open economy inserted in an environment with increasing participation of global value chains, such as the Chilean economy, requires information about how its business integrates into international markets. The contribution of this study is that it evaluates the stages and patterns of Chilean...

In this paper, we discuss several aspects related to innovation and entrepreneurship in Latin America (LATAM). First, we document how LATAM lags behing high-income economies using various innovation indicators and how heterogeneity is a relevant issue for the region. Then, we review the main...