This paper examines the effect of real exchange rate volatility on the intensive margin and the extensive margin of exports. Using highly disaggregated U.S. import data by product and country of origin, and a methodology that takes into account the possible endogeneity of volatility to trade,...

Using a rich dataset of Chilean exporters, we analyze several issues related to the relationship between entry into export markets and product quality. We find that every year a large number of new exporting relationships are initiated, but the survival rate of these entries is very low and...

We construct a time-variant, price-based measure of trade distortions in 28 manufacturing industries for a large sample of countries over the last four decades, documenting facts consistent with the argument that changes in relative prices are an important channel through which an economy’s...

Several studies have found that plant turnover contributes to productivity growth. This evidence seems to be consistent with the idea that, by reducing protection granted to inefficient firms, economic liberalization would generate productivity gains associated with resource reallocation from...

Recent models of trade with firm heterogeneity predict that opening to trade reduces the number of firms, increases the average size of firms, and decreases firms’ markups. This paper uses a large dataset for 28 manufacturing industries and 46 countries to test these predictions. The...

This paper examines the link between multinational enterprises and employment growth at the plant-level. We investigate in detail the comparative response of multinationals and domestic firms to an economic crisis, using the empirical setting of a well defined case of economic slowdown in Chile...

An important consequence of the recent financial crisis was the collapse of global trade. Using data of Chilean exporting firms, this paper studies the effect of financial constraints on export growth in the aftermath of the crisis. Our results show that both overall financing and export credit...

This study analyzes the characteristics and the results of programs promoting technological consortiums in Argentina, Chile, Colombia and Uruguay. These programs are aimed to facilitate the interaction between businesses and institutions dedicated to the production of science and technology. The...

The Central Bank of Chile builds inflation forecasts for several time horizons and using various methodologies. In this paper, we analyze one of these series of short-term inflation forecasts, which we call Auxiliary Inflation Forecasts (AIF), comparing them to forecasts made by private analysts...