¿Qué Debemos Explicar? Reportando las Fluctuaciones Agregadas de la Economía Chilena
Since the publication of the 1982 Kydland and Prescott’s paper, the business cycles literature has experienced significant changes. The traditional view characterized by product fluctuations mainly accounted for by nominal factors was replaced - at least in part - by models where all fluctuation sources are real. These models have shown to be capable of reproducing important features of the cycle, both for the United States and for Europe. In the less developed world, however, the view about fluctuations has remained relatively unchanged. There seems to be a generalized acceptance of the importance of money when uderstanding cycles in the region. Little evidence, however, has been provided in order to support or reject this believe. Recently, Kydland and Zarazaga (1997) offer an interesting description of the business cycle for Argentina and find no evidence of any significant differences with respect to business cycles in the developed world. More studies must be conducted in order to generalize their findings for the region. The main goal of this paper is to report evidence on the business cycles, nominal and real, for the Chilean economy complementing Kydland and Zarazaga’s work. Our findings suggest that fluctuations in Chile are similar to those reported for Argentina and the United States. In some cases, even more similar to the latter. We expect our reports not only help to create a systematic and generalized set of facts on the behavior of cycles in the developing countries, but also facilitate the understanding of the kind of models we need to better mimic the world.
Volume (Year): 16 (2001)
Issue (Month): 1 (June)
|Contact details of provider:|| Postal: Erasmo Escala 1835, 6500620 Santiago|
Phone: (562) 692-0265
Fax: (562) 692-0303
Web page: http://www.economia.uahurtado.cl/
More information through EDIRC
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:ila:anaeco:v:16:y:2001:i:1:p:145-166. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marcela Perticara)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.