Pontificia Universidad Catolica de Chile

Displaying 1-11 of 11 results

  • White Papers // Mar 2011

    A Note On Environmental Policy And Innovation When Governments Cannot Commit

    It is widely accepted that one of the most important characteristics of an effective climate policy is to provide firms with credible incentives to make long-run investments in R&D that can drastically reduce emissions. Recognizing that a government may be tempted to revise its policy design after innovations become available,...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Dec 2010

    Relative Price Variability And Inflation In A Fixed Price Regime

    The authors study the relation between inflation rate and relative price variability using data of prices on 23 disaggregated food items since 1960 to 2003 in Chile. The behavior of inflation rate is quite variable in that country during that time span and more interestingly, there are periods of time...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Dec 2010

    Exchange Rate And Monetary Policy For Sustainable Post-Conflict Transition

    This paper asks the question as to whether the choice of the exchange rate regime matters for post-conflict economic recovery and macro stabilization. Though an important aspect of the macroeconomic agenda for post-conflict, it has however, been largely ignored by the literature. The authors identify three main exchange rate regimes...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Oct 2010

    Face Recognition With Decision Tree-Based Local Binary Patterns

    Many state-of-the-art face recognition algorithms use image descriptors based on features known as Local Binary Patterns (LBPs). While many variations of LBP exist, so far none of them can automatically adapt to the training data. The authors introduce and analyze a novel generalization of LBP that learns the most discriminative...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Aug 2010

    Sudden Stops, Financial Frictions, And Labor Market Flows: Evidence From Latin America

    Sudden stops and international financial crises have been a main feature of developing countries in the last three decades. While their aggregate effects are well known, the disaggregated channels through which they work are not well explored yet. In this paper, the authors study the sectoral responses that take place...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Jul 2010

    Correlation Structure Between Inflation And Oil Futures Returns: An Equilibrium Approach

    The authors use an equilibrium model of a monetary economy to understand the economics behind the correlation between inflation and oil futures returns. They find that some of the positive correlation found in empirical studies is due to the fact that oil is in the consumption basket, however, this account...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Mar 2010

    Characterizing The Business Cycles Of Emerging Economies

    Using the dating algorithm by Harding and Pagan (2002) on a quarterly database for 23 Emerging Market Economies (EMEs) and 12 developed countries over the period 1980.Q1-2006.Q2, the authors proceed to characterize and compare the business cycle features of these two groups. They find that recessions are deeper and more...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Jan 2010

    Theory And Empirics Of Real Exchange Rates In Developing Countries

    This paper develops a general equilibrium model of the Real Exchange Rate (RER) for a small open economy; taking into account often overlooked characteristics of developing economies, such as the presence of significant aid flows, distorting trade taxes, and concentration of exports on natural resources. The equilibrium RER results from...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Dec 2009

    Entry Into Export Markets And Product Quality Differences

    Using a rich dataset of Chilean exporters, the authors analyze several issues related to the relationship between entry into export markets and product quality. They find that every year a large number of new exporting relationships are initiated, but the survival rate of these entries is very low and declines...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Nov 2009

    Corporate Tax, Firm Destruction And Capital Stock Accumulation: Evidence From Chilean Plants

    The authors investigate the impact of corporate taxation on capital stock. In the paper, they indicate that corporate taxation might not only distort the decision of each firm to invest but could also destroy firms. With this in mind, they estimate capital demand equations, correcting for self-selection in the decision...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Oct 2009

    Inflation Targeting Twenty Years On: Where, When, Why, With What Effects, What Lies Ahead?

    This paper looks back at 20 years of Inflation Targeting (IT) in the world, reviewing previous findings and reporting new cross-country and panel-data evidence on the determinants or IT regime choice and the results of IT adoption. After describing the where and when of IT adoption, the paper assesses the...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Aug 2010

    Sudden Stops, Financial Frictions, And Labor Market Flows: Evidence From Latin America

    Sudden stops and international financial crises have been a main feature of developing countries in the last three decades. While their aggregate effects are well known, the disaggregated channels through which they work are not well explored yet. In this paper, the authors study the sectoral responses that take place...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Mar 2011

    A Note On Environmental Policy And Innovation When Governments Cannot Commit

    It is widely accepted that one of the most important characteristics of an effective climate policy is to provide firms with credible incentives to make long-run investments in R&D that can drastically reduce emissions. Recognizing that a government may be tempted to revise its policy design after innovations become available,...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Dec 2010

    Exchange Rate And Monetary Policy For Sustainable Post-Conflict Transition

    This paper asks the question as to whether the choice of the exchange rate regime matters for post-conflict economic recovery and macro stabilization. Though an important aspect of the macroeconomic agenda for post-conflict, it has however, been largely ignored by the literature. The authors identify three main exchange rate regimes...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Jul 2010

    Correlation Structure Between Inflation And Oil Futures Returns: An Equilibrium Approach

    The authors use an equilibrium model of a monetary economy to understand the economics behind the correlation between inflation and oil futures returns. They find that some of the positive correlation found in empirical studies is due to the fact that oil is in the consumption basket, however, this account...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Mar 2010

    Characterizing The Business Cycles Of Emerging Economies

    Using the dating algorithm by Harding and Pagan (2002) on a quarterly database for 23 Emerging Market Economies (EMEs) and 12 developed countries over the period 1980.Q1-2006.Q2, the authors proceed to characterize and compare the business cycle features of these two groups. They find that recessions are deeper and more...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Dec 2009

    Entry Into Export Markets And Product Quality Differences

    Using a rich dataset of Chilean exporters, the authors analyze several issues related to the relationship between entry into export markets and product quality. They find that every year a large number of new exporting relationships are initiated, but the survival rate of these entries is very low and declines...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Nov 2009

    Corporate Tax, Firm Destruction And Capital Stock Accumulation: Evidence From Chilean Plants

    The authors investigate the impact of corporate taxation on capital stock. In the paper, they indicate that corporate taxation might not only distort the decision of each firm to invest but could also destroy firms. With this in mind, they estimate capital demand equations, correcting for self-selection in the decision...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Oct 2009

    Inflation Targeting Twenty Years On: Where, When, Why, With What Effects, What Lies Ahead?

    This paper looks back at 20 years of Inflation Targeting (IT) in the world, reviewing previous findings and reporting new cross-country and panel-data evidence on the determinants or IT regime choice and the results of IT adoption. After describing the where and when of IT adoption, the paper assesses the...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Jan 2010

    Theory And Empirics Of Real Exchange Rates In Developing Countries

    This paper develops a general equilibrium model of the Real Exchange Rate (RER) for a small open economy; taking into account often overlooked characteristics of developing economies, such as the presence of significant aid flows, distorting trade taxes, and concentration of exports on natural resources. The equilibrium RER results from...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Dec 2010

    Relative Price Variability And Inflation In A Fixed Price Regime

    The authors study the relation between inflation rate and relative price variability using data of prices on 23 disaggregated food items since 1960 to 2003 in Chile. The behavior of inflation rate is quite variable in that country during that time span and more interestingly, there are periods of time...

    Provided By Pontificia Universidad Catolica de Chile

  • White Papers // Oct 2010

    Face Recognition With Decision Tree-Based Local Binary Patterns

    Many state-of-the-art face recognition algorithms use image descriptors based on features known as Local Binary Patterns (LBPs). While many variations of LBP exist, so far none of them can automatically adapt to the training data. The authors introduce and analyze a novel generalization of LBP that learns the most discriminative...

    Provided By Pontificia Universidad Catolica de Chile