Este artículo estudia el efecto de las intervenciones cambiarias realizadas por el Banco Central de Chile sobre la paridad peso/dolar, utilizando datos diarios de intervenciones entre 1998 y 2003. Estimaciones de series de tiempo con MCO (tras testear la existencia de exogeneidad débil) y con...

This paper studies the effects of exchange rate interventions using daily and intraday data for Chile, from 1998 to 2003. Its main contribution is the recognition of the role played by transparency and public announcements in the success of the intervention policy, through the existence of an...

El desarrollo en la primera infancia es sin duda un gran promotor de sociedades más productivas y equitativas. El Estado chileno así lo reconoce e incorpora como prioridad en su agenda con impresionantes resultados, especialmente en cobertura de educación y cuidado. Aunque todavía quedan...

The main findings of this paper are that firm improvements will involve enhancing management practices, incorporating new technologies to production processes and increasing labor competencies of floor workers and managers. Policies that promote entrepreneurial innovation and a culture that...

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...

Education policies targeted at the worst performing schools are controversial. Its positive discrimination nature has been debated, while the lack of serious empirical evaluation has frozen the discussion at a highly theoretical level. The biggest problem has been to identify unbiased effects,...

En muchos países se han efectuado reformas a los sistemas de pensiones, desde sistemas de reparto a sistemas de capitalización. Una de las principales características de estos sistemas de capitalización es que son de contribuciones definidas y los beneficios están fuertemente atados al...

The behavior of inflation in Chile over the last 30 years has striking similarities to the experience of many industrialized and developing economies. The successful reduction of inflation, in a context of health GDP growth, reflects a combination of factors, ranging from better policies (both...

We study the relationship between firm value and ownership concentration in a market where firms are controlled by large shareholders. We set up an equilibrium model with private benefits of control and bargaining between large shareholders. With simulated data from the model we are able to...