Working Papers Central Bank of Chile - 2009

The Working Paper Series of the Central Bank of Chile disseminates economic research conducted by Central Bank staff or third parties under the sponsorship of the Bank. The purpose of the series is to contribute to the discussion of relevant issues and develop new analytical or empirical approaches in their analysis. The only aim of the Working Papers is to disseminate preliminary research for its discussion and comments.


Publication of Working Papers is not subject to previous approval by the members of the Board of the Central Bank. The views and conclusions presented in the papers are exclusively those of the author(s) and do not necessarily reflect the position of the Central Bank of Chile or of the Board members.

If you want to receive by e-mail the latest list of working papers published, please contact editor Alvaro García M.

Working papers number 513 ahead

Number title Authors date
549 Determinantes del Precio de Viviendas en Chile Andrés Sagner Diciembre 2009
548 A Historical Perspective on the Crisis of 2007–08 Michael D. Bordo Diciembre 2009
547 Modeling a Housing and Mortgage Crisis Charles A.E. Goodhart
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis		 Diciembre 2009
546 Policy Reform Under Electoral Uncertainty Dalibor Eterovic Diciembre 2009
545 Forecasting Chilean Inflation From Disaggregate Components Marcus Cobb December 2009
544 Towards an Operational Framework for Financial Stability: "Fuzzy" Measurement and its Consequences Claudio Borio; Mathias Drehmann December 2009
543 Institutional Bias Towards The Status Quo Dalibor Eterovic December 2009
542 A Network Model of Super-systemic Crises Prasanna Gai; Sujit Kapadi December 2009
541 New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability Dale F. Gray
Robert C. Merton
Zvi Bodie		 December 2009
540 Households’ Financial Vulnerability Marcelo Fuenzalida
Jaime Ruiz-Tagle
 December 2009
539 Exchange Rate Volatility and Export Margins. Roberto Álvarez
Michael Doyle
Ricardo A. López		 December 2009
538 On The Role and Effects of IMF Seniority Diego Saravia December 2009
537 The Balance Sheet Channel Ethan Cohen-Cole
Enrique Martinez-Garcia		 December 2009
536 Entry into Export Markets and Product Quality Differences Roberto Álvarez
J. Rodrigo Fuentes 		December 2009
535 Análisis de Derechos Contingentes: Aplicación a Casas Comerciales Rodrigo Alfaro
Natalia Gallardo		 December 2009
534 Efectos del Calentamiento Global sobre la Industria Pesquera Carlos Medel December 2009
533 Hybrid Inflation Targeting Regimes Carlos García
Jorge Restrepo
Scott Roger		 December 2009
532 Bank Credit and the 2008 Financial Crisis: A cross-country Comparison Ari Aisen
Michael Franken		 December 2009
531 The Yield Curve Under Nelson-Siegel Rodrigo Alfaro October 2009
530 The Long And The Short Of Emerging Market Debt Luis Opazo
Claudio Raddatz
Sergio Schmukler 		October 2009
529 A Simple Global Perspective on the US Slowdown, Boom-Bust Cycles and the Rise of Protectionism
 Juan Pablo Medina
Pablo García		 October 2009
528 The Effect of the Number of Lending Banks on the Liquidity Constraints of Firms: Evidence From a Quasi-Experiment Daniel Calvo
Alejandro Drexler
Carolina Flores
David Pacheco		 October 2009
527 Monetary Policy And Key Unobservables: Evidence From Large Industrial And Selected Inflation-Targeting Countries
 Klaus Schmidt-Hebbel
Carl E. Walsh		 October 2009
526 Communicational Bias In Monetary Policy: Can Words Forecast Deeds? Pablo Pincheira
Mauricio Calani		 October 2009
525 Interindustry Wage Differences: An Empirical Review Miguel Ricaurte August 2009
524 The Effect of Credit Insurance on Liquidity Constraints and Default Rates: Evidence From a Governmental Intervention Kevin Cowan
Alejandro Drexler
Álvaro Yañez		 August 2009
523 FDI vs. Exports: Accounting for Differences in Export-Sales Intensities Miguel Ricaurte
Katherine Schmeiser		 August 2009
522 Pass-through of Large Changes in Monetary Policy Rate – Evidence for Chile J. Sebastián Becerra
Luis Ceballos
Felipe Córdova
Michael Pedersen
 August 2009
521 Corporate Tax, Firm Destruction and Capital Stock Accumulation: Evidence From Chilean Plants Rodrigo A. Cerda
Diego Saravia		 July 2009
520 When RSI met the Binomial-Tree Rodrigo Alfaro
Andrés Sagner 		June 2009
519 Skill Upgrading and the Real Exchange Rate Roberto Álvarez
Ricardo A. López		 June 2009
518 Optimal Taxation With Heterogeneous Firms Rodrigo A. Cerda
Diego Saravia		 June 2009
517 Do Exchange Rate Regimes Matter For Inflation And Exchange Rate Dynamics? The Case Of Central America. Rodrigo Caputo G.
Igal Magendzo		 June 2009
516 Interbank Rate and the Liquidity of the Market. Luis A. Ahumada
Álvaro García
Luis Opazo
Jorge Selaive		 April 2009
515 Sovereing Defaulters: Do International Capital Markets Punish Them? Miguel Fuentes
Diego Saravia		 April 2009
514 Forecasting Inflation in Chile With an Accurate Benchmark Pablo Pincheira Brown
Álvaro García Marín		 April 2009
513 From Crisis to IMF-Supported Program: Does Democracy Impede the Speed Required by Financial Markets? Ashoka Mody
Diego Saravia		 March 2009