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Empirical Regularities Of The Chilean Economy: 1986-2005

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  • Jorge Enrique Restrepo L.
  • Claudio Soto G.

Abstract

This paper documents the main empirical regularities of the Chilean economy over the past twenty years, characterizing it in two dimensions. First, it describes the economy’s structure in terms of the sectors’ relative sizes in the long term and the importance of the various components of aggregate demand. Second, it documents the main features of business cycles in Chile. The volatility and persistence of several variables across the cycles is described, together with the correlations within a set of significant variables. In general, the correlations observed tend to indicate that supply-side factors play an important role in explaining business cycles in Chile. On the aggregate demand side, terms of trade and availability of foreign capital are found to have substantial effects on all its different components.

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Bibliographic Info

Article provided by Central Bank of Chile in its journal Economía Chilena.

Volume (Year): 9 (2006)
Issue (Month): 2 (August)
Pages: 15-40

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Handle: RePEc:chb:bcchec:v:9:y:2006:i:2:p:15-40

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  10. Julio J. Rotemberg, 1999. "A Heuristic Method for Extracting Smooth Trends from Economic Time Series," NBER Working Papers 7439, National Bureau of Economic Research, Inc.
  11. Marianne Baxter & Robert G. King, 1995. "Measuring Business Cycles Approximate Band-Pass Filters for Economic Time Series," NBER Working Papers 5022, National Bureau of Economic Research, Inc.
  12. Raphael Bergoeing & Juan Enrique Suarez, 2001. "¿Qué Debemos Explicar? Reportando las Fluctuaciones Agregadas de la Economía Chilena," Revista de Analisis Economico – Economic Analysis Review, Ilades-Georgetown University, Universidad Alberto Hurtado/School of Economics and Bussines, vol. 16(1), pages 145-166, June.
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  14. Rodrigo Fuentes & Mauricio Larraín & Klaus Schmidt-Hebbel, 2006. "Sources of Growth and Behavior of TFP in Chile," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 43(127), pages 113-142.
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