This paper presents evidence of an important decline during recent decades in the pass-through from the price of oil to the general price level. We find that this decline is a generalized fact for a large set of countries. After documenting correlations between the consumer price index and oil...

Using a panel data of innovative Chilean firms, we obtain a private return for R&D expenditure close to 30% during the nineties. Despite the fact of being almost twice the return obtained for physical capital - 17 %, results show that R&D expenditure causes contemporaneous negative impacts over...

The first five years of the flexible exchange rate and inflation targeting regime in Chile have shown positive results. Inflation is under control, the exchange rate has moved with the external conditions, monetary policy has been countercyclical and the cycle has apparently smoothened. Even...

The first five years of the flexible exchange rate and inflation targeting regime in Chile have shown positive results. Inflation is under control, the exchange rate has moved with the external conditions, monetary policy has been countercyclical and the cycle has apparently smoothened. Even...

(Disponible en idioma inglés) Los primeros cinco años del régimen de tipo de cambio flexible y la fijación de metas inflacionarias en Chile han arrojado resultados positivos. La inflación está controlada, el tipo de cambio ha evolucionado a la par de las condiciones externas, la política...

'Natural Resources: Neither Course nor Destiny' brings together a variety of analytical perspectives, ranging from econometric analyses of economic growth to historical studies of successful development experiences in countries with abundant natural resources. The evidence suggests that natural...

This book analyzes the political economy of exchange rate policy in Latin America. It brings together the work of economists and political scientists interested in the interaction of economic and political factors in the development of exchange rate policy.

'Natural Resources: Neither Course nor Destiny' brings together a variety of analytical perspectives, ranging from econometric analyses of economic growth to historical studies of successful development experiences in countries with abundant natural resources. The evidence suggests that natural...