The main goal of the present paper is to evaluate the sources of growth in Chile and the world over the last decades, but stressing the role of complementarities in economic policies. Hence, we evaluate the growth determinants for a sample of 28 countries with information over the 1970-2000...

The main goal of the present paper is to estimate the equilibrium real exchange rate path for Chile using a simple model for the 1977.I – 2003.III period. Using cointegration techniques, we find a cointegrating relationship between the real exchange rate (RER) and its fundamentals —that is,...

This paper presents a brief overview of the current state of financial development in Chile, comparing it with other countries. After providing a short summary of the most important financial reforms of past decades, we highlight the main strengths and weaknesses of Chile’s financial markets....

This paper studies empirically the relation between household economic saving (including durable good purchases) and the business cycle using Chilean data. The data show that the relation between household saving and the business cycle is given by the durable consumption dynamics.Consequently, a...

This paper seeks to evaluate the benefit that the regime of inflation targeting brought in the nineties. The paper concentrates in measuring, through matching estimators, to what extent can the process of inflationary deceleration of the period be attributed exclusively to this scheme. Results...