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Este artículo analiza los efectos no ricardianos de los shocks al gasto fiscal en Chile. Comenzamos presentando evidencia de tales efectos basados en vectores autorregresivos. Luego mostramos que dicha evidencia puede modelarse en un modelo que contemple: (i) una fracción considerable de hogares ...


Céspedes, Luis FelipeFornero, JorgeGalí, Jordi[Non-Ricardian aspects of fiscal policy in Chile][Aspectos no ricardianos de la política fiscal en Chile]Aspectos no ricardianos de la política fiscal en Chile

Céspedes, Luis FelipeGalí, Jordi[Fiscal policy and macroeconomic performance: an overview]Fiscal policy and macroeconomic performance: an overview

Céspedes, Luis FelipeFornero, JorgeGalí, Jordi[Non-ricardian aspects of fiscal policy in Chile]Non-ricardian aspects of fiscal policy in Chile

Understanding the dynamics of inflation has become an important challenge for both policymakers and researchers over the past decade. Empirical models linking inflation and economic activity—versions of the so-called Phillips curve—have failed to account for the behavior of inflation in many adva...


Castex, GonzaloGalí, JordiSaravia, Diego[Changing inflation dynamics, evolving monetary policy: an overview]Changing inflation dynamics, evolving monetary policy: an overview

The deep and prolonged recession triggered by the global financial crisis of 2007–2009 led to a large increase in the unemployment rate in most advanced economies. Ten years later, at the time of writing this paper, the recession has long ended, and the subsequent recoveries have brought the unem...


Galí, JordiGambetti, Luca[Has the U.S. wage phillips curve flattened? A semi-structural exploration]Has the U.S. wage phillips curve flattened? A semi-structural exploration

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