We use data from Chile’s targeted voucher program to test the effects of vouchers on school results. Targeted vouchers have delivered extra resources to low-income, vulnerable students since 2008. Moreover, under this scheme, additional resources are contingent on the completion of specific...

This paper studies the probability of survival of the manufacturing plants that start producing in Chile in the period 1979-1999 using a proportional hazards model. Opposing previous empirical international evidence, the survival diminishes with age, initial size, and with the rate of growth of...

type="main" <p>Is there any evidence that innovation and technological progress are constrained by competition and fostered by monopoly power? Our results, based on a constructed dataset of U.S. manufacturing industries observed over more than two decades, suggest that this is not the case. On the...</p>

Does innovation boost or fall with more competition when innovation follows a memory process? This paper provides a theoretical model which analyzes the innovation and competition relationship assuming that innovation follows a short-memory process. I find innovation increases with more product...

This paper analyzes recent labor market developments in the Chilean economy. The evidence shows a booming labor market with strong job creation since 2010. Most of the jobs created during the past three years are quality jobs—that is, jobs with a written contract and whose employers have made...

Using Chilean manufacturing plants data, we�find: (1) the elasticity of substitution between capital and skilled labor is lower than the elasticity of substitution between capital and unskilled labor, and (2) the higher the technological component of the capital stock the larger the size of...

Between 1988 and 1998 Chile’s average economic growth reached 7.8%. Nonetheless, growth decelerated sharply after the Asian Crisis; since 1998 the average economic expansion was only 3.7%. Along with this deceleration, the volatility of the economy was cut by more that half. Using a formal...