This paper presents estimation of Armington Substitution Elasticities between imported and domestic goods in Ecuador at the input output level of goods classification. These estimations are intended to be used in applied general equilibrium models of the cuadorian economy that analyze the...

This document tries to show how the capital asset pricing model based on the consumption theory under uncertainty could reproduce the statistical moments of Chilean interest rates. In order to reach this objective a model like the one proposed by Lucas (1980) is simulated and the parameters of...

The financial crises of recent years have revealed the sensitivity and vulnerability of nominal interest rates to inflation, which reduces the value of money and affects the returns of financial instruments. The lack of resources to mitigate the impact of inflation has been a limiting factor...

This article illustrates how contracts are completed ex post in practice and, in so doing, indirectly suggests what the real function of contracts may be. Our evidence comes from the contracts between automobile manufacturers and their dealers in 23 dealership networks in Spain. Franchising...