Documento de Trabajo

Environmental Taxes, Inefficient Subsidies and Income Distribution in Chile: A CGE Framework

Successful economic growth followed by Chile, based on open market and export strategy, is characterised by a high dependence on natural resources, and by polluting production and consumption patterns. There is an increasing concern about the need to make potentially significant trade-offs between economic growth and environmental improvements. Additionally, policy-makers have been reluctant to impose

Energy Prices in the Presence of Plant Indivisibilities

In several countries (Chile, Bolivia, Argentina and Peru, among others), power plants are dispatched according to merit order, i.e., based on the marginal operating costs of the plants. In this scheme, the plant with the highest marginal cost sets the spot price at which firms trade the energy requires to fulfill their contracts. The model

A Non-parametric Approach to Model the Term Structure of Interest Rates: The Case of Chile

Numerous studies have resorted to parametric models to infer the shape of the term structure of interest rates. Recently, however, it has been shown that non-parametric techniques may be more adequate. This is an empirical study for Chile between December 1992 and April 1998. Monte Carlo simulations, based upon a non-parametric one-factor model, suggest that

El modelo económico y la cuestión social (The economic model and the social question)

En este artículo hay una revisión de la discusión conceptual respecto a la interrelación entre mercado y desigualdad. ¿El sistema capitalista genera inevitablemente una distribución inequitativa? La meritocracia sería el argumento central para justificar dicha situación. Pero, ¿existe en Chile una sociedad meritocrática? ¿Hasta qué punto las condiciones iniciales condicionan la trayectoria individual de cada

Subsidies in Chilean Public Utilities

Chile es uno de los países con peor desigualdad del ingreso de América Latina e incluso del mundo. Al mismo tiempo, durante la última década, el «modelo chileno» ha sido considerado como un ejemplo paradigmático que debiera ser imitado por los países en desarrollo y en particular, por los países latinoamericanos. ¿Cómo se concilian estos

Pobreza y distribución del ingreso en Chile (década del 90) (Poverty and income distribution in Chile during the 1990s)

This paper makes an analysis of subsidies in Chile`s public utilities. Rates rebalancing have practically eliminated cross subsidies, and current subsidy programs are funded from the national budget. Over the last decade in particular, significant efforts have been made to extend public services to rural populations, and a consumption subsidy for potable water currently benefits

La legislación laboral y el mercado del trabajo en Chile: 1975-2000 (Labor legislation and the labor market in Chile: 1975-2000)

Los costos sociales de la crisis macroeconómica de los años ochenta, la creciente integración a los mercados internacionales y los efectos de la competencia en actividades tradicionales e intensivas en mano de obra; han llevado a muchos países latinoamericanos a reformar sus normativas laborales con el fin de mejorar el funcionamiento de sus mercados del

Optimal Fiscal Strategy for Oil Exporting Countries

This paper develops simple guidelines for scal policy in oil producing countries, focusing on three issues: intergenerational oil distribution, precautionary saving, and adjustment costs. The paper presents a framework to analyze how the revenue generated by an exhaustible source of wealth that belongs to the government should be distributed between current and future generations. This

Comparación de las Canastas Exportadoras de América Latina y Asia (Comparing Latin American and Asian export products)

Este artículo examina la similitud y el grado de competencia existente entre las canastas exportadoras de países asiáticos y latinoamericanos. Las canastas exportadoras de países latinoamericanos ¿son similares o distintas?, ¿cuál es el grado de competencia que hay entre países latinoamericanos que exportan a un mismo mercado? Luego, a través del uso de un modelo