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...

Using daily data on intervention activities by the Central Bank of Chile between 1998 and 2003, this paper studies the impact of these actions on the peso/dollar exchange rate. First, results are obtained from an event study, finding no evidence of a significant effect of interventions on the...

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...

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...

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...

Many countries have switched from a pay-as-you-go pension systems to a fully funded scheme with individual accounts. These fully funded systems are commonly implemented as defined contribution schemes, so that the final benefits paid are uncertain and closely related the contribution profile....

Human Capital, or more precisely education, plays an important role in economic growth. Chile's structural reforms in this front have contributed with more than one percentage point of higher growth during the nineties. If we continue in the same human capital trend growth, or even better, if we...

This paper reviews the issues and papers presented at the VII Annual Conference of the Central Bank of Chile on Labor Market and Institutions, that will soon be compiled in a book by the same name. It discusses the origins of labor regulations, which are many times not associated to specific...

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...