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Revista de Análisis Económico (1999)

Revista de Análisis Económico (1999)

 

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  • Fernández M., Viviana (ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 1999)
    Option pricing dates back to the turn of the century with Bachelier's doctoral dissertation on speculation theory. In 1964 Bonness developed a formula for option pricing similar in nature to that of Black-Scholes's but ...
  • Valdés, Rodrigo; Delano, Valentín (ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 1999)
    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 ...
  • Mitnik, Oscar Alberto (ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 1999)
    Investment in education is an essential element for the economic growth of a country. Theory supports this argument with models that stress the individual and social benefits of education. Although the empirical literature ...
  • Zuñiga, Sergio (ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 1999)
    In this article we estimate a two-factor model for the risk-free term structure yield in Chile. These factors are the short rate and the central tendency that are not directly estimable. Both factors follow an Ito stochastic ...
  • Braverman, Daniel G.; Chisari, Omar; Quesada, Lucía; Rossi, Martín A. (ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 1999)
    In this paper we address two important issues for the young pension fund industry in Argentina: (i) How can individual funds be ranked according to their efficiency? and (ii) How have recent regulations -mainly, limiting ...
  • Srinivas, P. S.; Yermo, Juan (ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 1999)
    The paper assesses the impact of regulatory regimes on the market performance of private pension funds in Latin American countries that have undertaken reforms of their pension systems. It focuses in particular on the ...
  • Camarero, Mariam; Esteve, Vicente; Tamarit, Cecilio (ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 1999)
    In this paper we enquire about the link among Spanish real effective exchange rate relative to the EU, The terms of trade and the real interest rate differential over the period 1980-1994. This period is of interest to the ...
  • Morón, Eduardo; Zegarra , Luis F. (ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 1999)
    A central element of an inflation targeting approach to monetary policy is a proper measure of inflation. The international evidence suggests the use of core inflation measures. In this paper we claim that core inflation ...
  • Mena, Hugo (ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 1999)
    The variability of the economy's growth in Latin American Countries (LACs) tends to far exceed that found in developed nations. Huge recessions are frequent in LACs. Typically, these recessions are accompanied by major ...
  • Echecopar, German (ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 1999)
    The paper provides an argument for how selective industrial policies (targeting) can produce faster productivity growth. A model is developed to show that when learning externalities are present, targeting can increase the ...