The present study analyzes how copper price shocks affect macroeconomic variables in Chile, which is the largest producer in the world of this commodity. It is taken into account that shocks with different sources may have different impacts and a separation is made between supply, demand, and...

With the objective of evaluating the impact of oil price shocks on the Chilean economy, this paper applies the sign restriction methodology to impulse-response functions in order to distinguish the effects of different types of shocks, namely supply, demand, or oil-specific demand. It also...

This study analyses what affects the expectations of the private forecasters and, particularly, if they are influenced by the central bank's forecasts. The analysis uses data from the Economic Expectation Survey (EES), conducted by the Central Bank of Chile, and from the Monetary Policy Reports...

We assess the role of real and nominal shocks on the real exchange rate (RER) dynamics for a set of small open economies. In doing so, we estimate a SVAR model for five inflation targeting countries: Australia, Canada, Chile, Israel and Norway. In sharp contrast with the existing empirical...

In this paper we analyze the contribution of international measures of inflation to predict local ones. To that end, we consider the set of current thirty one OECD economies for which inflation data is available at a monthly frequency. By considering this set of countries, a span of time...

Real-time data are analysed for information on the Chilean monthly economic activity indicator IMACEC and what it indicates of the final GDP, defined as the growth rate that has been subject to at least two annual revisions. Data are presented and revisions analysed briefly. Mincer-Zarnowitz...

In order to assess the impact of an oil-price shock on the Chilean economy, this paper applies the sign constraint methodology of impulse-response functions to distinguish the effects of different types of shock, namely supply, demand, or specific demand for oil. To compare the results from...

This paper provides essential background of European power sector and discusses the theoretical background for its integration. Our work employs real-life statistics on the state of integration in order to find out what future development might be in place for this key sector of European...

We examine consumption and commercial lending rates evolution, identifying the main determinants of their movements. Our objective is to distinguish effects related to monetary policy rate from those due to higher risk; this is done through counterfactual simulations around relevant variables....