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This paper analyzes the relationship between productivity growth differentials and real exchange rate (RER) in Chile using three alternative methods. First, it calibrates with Chilean data a simple RER model that includes Balassa-Samuelson effect. Second, it uses time series data to estimate coin...


Valdés, RodrigoDelano, Valentín[Productividad y Tipo de Cambio Real de Largo Plazo]Productividad y Tipo de Cambio Real de Largo Plazo

This paper studies the determinants of private capital flows to developing countries during the last two episodes of large inflows, the late 1970s-early 1980s and the 1990s. The paper also tests for contagion effects in capital flows among recipient countries, and tries to identify specific chann...


Hernández, LeonardoMellado, PamelaValdés, Rodrigo[Determinants and Contagion in Private Capital Flows: Preliminary Evidence from the 1970s and 1990s]Determinants and Contagion in Private Capital Flows: Preliminary Evidence from the 1970s and 1990s

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