Volume 1: Empirical Analysis of Saving in Chile

Only available in Spanish

Central Banking Series

Edited by Felipe Morandé & Rodrigo Vergara - ISBN 956 7421 080

This volume presents a varied set of recent unpublished articles on saving in Chile, from conceptual as well as empirical standpoints, bringing to bear newly-acquired and more complete data, as well as offering fresh and relevant views on the subject.
The studies presented in this volume go deeper into the subject of saving, delving into it from a wide variety of different points of view, such as at the aggregate level, by sectors, by households, according to surveys, etc. The reader thus acquires a much wider view enabling him to better analyze public policy on this matter.

Comments

“The lethargic progress of saving in Chile during the past few years has brought discussion of this important subject once more to the fore. Saving is one of the key factors driving economic growth and hence the relevance of a book such as Empirical Analysis of Saving in Chile which analyzes the behavior and the determinants of saving in this country and abroad. The book highlights elements that were fundamental to Chile’s strong growth in savings from the mid-eighties, such as fiscal saving, rationalization of tax structure and pension system reform.”

Hernán Büchi, former Minister of Finance, Chile.

“Although it is a mystery to no-one that saving is a key component of economic growth, there are many mysteries regarding the reasons for it. This book is probably the most serious effort made to date to reveal what lies behind the saving decisions made by various economic agents in Chile. The chapters of the book successively deal with theoretical and empirical results of great value from an academic point of view and even greater value when formulating future economic policy.”

Nicolás Eyzaguirre, Minister of Finance, Chile.

“This book is an incisive and concise scientific analysis in which successive actors give substantial and coherent explanation of saving in Chile: Ricardian equivalence  permanent and transitory inflows, obligatory, public and external savings, liquidity restriction, etc. Its meticulous analysis is on a par with its exhaustive coverage of the subject.”

Dominique Hachette, Professor, Pontifical Catholic University of Chile.