Documento de Trabajo

International Trade and Sustainability of the Chilean Forestry Sector

In this paper the vulnerability of Chile`s forestry trade to environmental threats is explored. The increasing concern for the environment by consumers, together with the life cycle approach to products has created a new context for forest exploitation. The new trend in consumer based voluntary instruments, requiring an increasing use of eco-labels and forestry certification

Ensayo sobre equilibrio general computable: Teoría y aplicaciones (Essay on general computable equilibrium: Theory and applications)

Este documento de trabajo presenta un resumen de la literatura conceptual y aplicada sobre modelos de equilibrio general computables (EGC). Se examinan las principales características de los EGC, las formas en que se construyen, los datos requeridos y métodos de calibración, así como sus ventajas y desventajas. Luego se discuten sus principales aplicaciones tanto en

Estimación de la evasión en el impuesto a las empresas en Chile (Estimates of tax evasion for Chilean companies)

Este trabajo estima la evasión en el impuesto a las empresas en Chile. La recaudación potencial del impuesto se estima realizando diversos ajustes al Excedente de Explotación del Sistema de Cuentas Nacionales. La evasión estimada para 1997 es de $604.223 millones (unos US$1.440 millones), lo que representa un 41,7% de la recaudación teórica. Asimismo, los

Sistemas de incentivos en educación y la experiencia del SNED en Chile (An incentives system in education and the experience of the SNED in Chile)

Este artículo discute la importancia de los sistemas de evaluación e incentivos aplicados a la educación. En particular, analiza el diseño e implementación del Sistema Nacional de Evaluación del Desempeño de los Establecimientos Educacionales Subvencionados (SNED), que ha sido aplicado en Chile desde 1996. Con esta finalidad, se describe el SNED, se discuten los desafíos

La crisis eléctrica de 1998-1999: causas, consecuencias y lecciones (The electric crisis of 1998-1999: Causes, consequences and lessons)

Este trabajo analiza la crisis eléctrica de 1998-1999. Su principal conclusión es que el diagnóstico habitual que sostiene que ocurrió porque las empresas no invirtieron y el regulador no tenía atribuciones, es equivocado. A pesar de la peor sequía del siglo y de la falla de la central Nehuenco, los cortes de energía y el

A Debt Puzzle

Over 60% of US households with credit cards are currently borrowing |i.e., paying interest |on those cards (Gross and Souleles 2000). We attempt to reconcile the high rate of credit card borrowing with observed levels of lifecycle wealth accumulation. We simulate a lifecycle model with five properties that create demand for credit card borrowing. First,

Hyperbolic Discounting, Wealth Accumulation, and Consumption

Laboratory and field studies of time preference find that discount rates are much greater in the short-run than in the long-run. Hyperbolic discount functions capture this property. This paper presents simulations of the savings and asset allocation choices of households with hyperbolic preferences. The behavior of the hyperbolic households is com-pared to the behavior of

How to Auction a Bottleneck Monopoly when Underhand Vertical Agreements are Possible

In recent years a number of seaport facilities have been awarded in Demsetz auctions to the operator that bidding the lowest cargo-handling fee. A major concern is that the port operator may integrate into shipping and sabotage competitors, thereby rendering the competitive auction irrelevant. The standard policy recommendation to mitigate this problem, is to ban

Estructura de tasas de interés en Chile: ¿Qué tan buen predictor de crecimiento e inflación? (Interest rates structure in Chile: how well does it predict growth and inflation?)

Based upon Granger causality and Pesaran-Shin’s generalized impulse-response functions, this paper studies the link between the term structure and economic growth, and the link between the term structure and actual and expected percent changes of the Consumer Price Index (CPI) in Chile. Our measure of economic growth is the percent variation in the Monthly Indicator

Franchising of Infrastructure Concessions in Chile: A Policy Report

This report describes and evaluates the present state of the Chilean infrastructure concessions program. This program is leading to a complete upgrade of Chile`s highway system and has been recently extended to seaports. The main principles underlying the economics of franchising are examined and used to evaluate the programof privatizations of highways and seaports. Compared

Decisions to Replace Consumer Durables Goods: An Econometric Application of Wiener and Renewal Processes

Current sales of most consumer durable goods are accounted for by replacements. However, only in recent years has the economic literature provided a more rigorous analysis of replacement purchases by incorporating elements of dynamic programming and of the theory of stochastic processes. This paper is an empirical study of household replacement decisions modeled as an

Regulating the Electricaly Sector in Latin America

During the past decade most Latin American countries reformed and liberalized their electric sectors. This paper examines these reforms, providing a critical examination of the effects. Late reformers learnt from the experience of earlier reforming countries, and in particular from the Chilean experience. This evolutionary process has meant less regulation of segments that are or