Research on regional economic growth in Chile has focused mainly on convergence (absolute vs. conditional) and the speed toward the steady state, and less on what such convergence entails in terms of welfare, poverty reduction, and inequality. This is a major limitation. This paper presents an...

The research addresses three methodological questions that are central to effective exchange rate and macroeconomic management: what are the determinants and how to model the real exchange rate (RER), how to estimate its equilibrium level, and how to quantify the likely impact of misalignment on...

The objectives of this paper are, first, to describe the developments in Chilean financial markets at the macroeconomic level and, then, to examine their effects at the level of firms. After reviewing the main government policies towards financial markets in the last three decades, the paper...

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