Revista de Análisis Económico (2002)
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Regulación de las Modalidades de Pensión en los Sistemas de Capitalización de América Latina
(ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 2002)In this paper we analyze the different types of pension plans available in those Latin American countries which have pension systems based on individual capitalization accounts with defined contributions. Based on ideas ... -
Una Estimación del Costo Social de Eliminar los Déficit de Abastecimiento Eléctrico en el SIC
(ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 2002)We estimate the social cost of eliminating energy outages in Chile's Central Interconnected System (SIC) with the hydrotermic dispatch model used to operate the system. We simulate the optimal operation with 1,000 random ... -
Estilos, Timing e Imitación en los Fondos Mutuos Accionarios Chilenos
(ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 2002)This paper studies the apparent lack of value creation by Chilean equity mutual funds, emphasizing the role of their "investment styles" (obtained by combining multiple equity and fixed-income benchmarks, using Sharpe�s ... -
La Tasa de Descuento en Proyectos de Inversión de Largo Plazo
(ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 2002)This paper estimates the rate of discount to be used in Chile when evaluating long run projects with environmental consequences. The methodology is known as Gamma Discounting and was presented first by Martin Weitzman in ... -
Sustitución de Activos en Bolivia
(ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 2002)The paper presents empirical evidence regarding asset substitution in Bolivia in the 1990-2002 period. Using an ARCH-M/TARCH specifica-tion, the exchange rate depreciation is modeled in a crawling-peg re-gime with a real ... -
Un Indicador Líder del IMACEC
(ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 2002)This paper develops a methodology to build a leading indicator for economic activity in Chile, that can be applied more generally to other economic series. The first step is to evaluate the leading capacities of a group ... -
The Intertemporal Approach to the Current Account: Evidence for Chile
(ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 2002)This paper studies the existence of "excess" current-account imbalances in Chile in the 1960-1999 period. This phenomenon is modelled using present value tests that allow for variable interest rates and exchange rate ... -
Economic Structure, International Income Differentials and Long-Run Growth
(ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 2002)In a well-known paper on the structure of development, Leontief (1963) showed that a country�s degree of economic development could be assessed by the relative completeness of its economic structure. This pattern of ... -
Inflation Uncertainty in Chile: Asymmetries and the News Impact Curve
(ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 2002)This article presents a historical analysis of inflation in Chile from 1933 to 2001, estimating generalized autoregressive heteroskedasticity models, including asymmetric extensions such as the Threshold, Quadratic and ... -
Determinants and Contagion in Private Capital Flows: Preliminary Evidence from the 1970s and 1990s
(ILADES; Georgetown University; Universidad Alberto Hurtado. Facultad de Economía y Negocios, 2002)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 ...
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