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This paper studies three issues of the Chilean electricity regulation and their incidence in the energy crisis of 1998-99. Could the price mechanism manage the supply shortage without blackouts? Did the regulation provide incentives to invest in reserve capacity?, and what were the effects of lim...
The paper revisits the economic implications of currency boards discussed in the literature in light of the recent Argentinean experience with the Convertibility Plan. It finds that, while the plan was successful in bringing down inflation, it has done so at the expense of greater output volatili...
Este artículo describe y caracteriza, desde el punto de vista de su organización industrial, los mercados del petróleo y sus derivados líquidos en Chile. Con ese objetivo, se realiza primero una descripción sistemática de cada uno de los mercados que componen esta industria, considerando para ell...
A serious problem in emerging economies is that of corruption and tax evasion. Its most visible outcomes are resource misallocation, relative price distortions, and distributive inequalities. In this paper we analyze the way in which corruption inside tax agencies in charge of the auditing taxpay...
Since the publication of the 1982 Kydland and Prescott�s paper, the business cycles literature has experienced significant changes. The traditional view characterized by product fluctuations mainly accounted for by nominal factors was replaced - at least in part - by models where all fluctuation ...
In the Human Capital Theory developed by Becker (1964) firms have no incentives to provide general training unless workers are willing to finance it. In this paper, we argued that under certain conditions (either asymmetric information or strategic complementarity between general and specific tra...
This paper is part of a series examining the relevance of the most important textbook growth models. The model of choice in this paper is an endogenous growth model. The AK model �chosen as a representative of an endogenous growth model - is applied to Chilean annual data (1960-1998) and tested. ...
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