6 articles in this issue
César Calderón, Roberto Duncan
Recent research has found evidence that supports the purchasing power parity (PPP) condition in developed countries using very long-span data, while evidence for developing countries is almost nonexistent. This paper tries to fulfill this void by testing ... see more
Carlos Noton
A microeconomic model of imperfect Cournot competition is used to derive an explicit endogenous relationship between price level and the nominal exchange rate. We obtain a mark-up that varies endogenously with consumer real income. Using the model, the es... see more
Matías Tapia, Andrea Tokman
Using daily data on intervention activities by the Central Bank of Chile between1998 and 2003, this paper studies the impact of these actions on the peso/dollarexchange rate. Time series estimates using OLS (after testing for weakexogeneity) and two-stage... see more
Richard Freeman
This paper presents evidence that legal protection of property rights is indeedan important contributor to economic success but that institutional and legalprotection of the rights of labor is also associated with economic success, particularlyin developi... see more
Javier Nuñez, Jorge Rivera, Xavier Villavicencio, Oscar Molina
This paper is a first attempt at analyzing the determinants of crime in Chile. Weemploy a static panel for the thirteen regions of Chile from 1988 to 2000. Followingthe standard Becker-Ehrlich model, the empirical model includes variousvariables linked to... see more
Sergio Salas, Dante Contreras
In this paper, we use the econometric frontier approach to estimate efficiency measures of the transformation of human capital into earned income in the Chilean labor market for the period 1957-1998. We find that the mean efficiency is 75%, and that it ha... see more