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Tipo de Cambio Real y Gasto Público: Un Modelo Econométrico para Chile

Author

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  • Soledad Arellano
  • Felipe Larraín

    (Instituto de Economía)

Abstract

This paper draws on the work of Rodríguez (1982, 1989, 1992) to develop a simple theoretical model whose reduced form has the real exchange rate as a function of the level, composition, and financing of public spending, the terms of trade, and the trade b

Suggested Citation

  • Soledad Arellano & Felipe Larraín, 1996. "Tipo de Cambio Real y Gasto Público: Un Modelo Econométrico para Chile," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 33(98), pages 47-76.
  • Handle: RePEc:ioe:cuadec:v:33:y:1996:i:98:p:47-76
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    File URL: http://www.economia.uc.cl/docs/098arela.pdf
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    References listed on IDEAS

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    1. Barro, Robert J, 1989. "The Ricardian Approach to Budget Deficits," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 37-54, Spring.
    2. Rodriguez, Carlos Alfredo, 1989. "The external effects of public sector deficits," Policy Research Working Paper Series 299, The World Bank.
    3. Rodriguez, Carlos Alfredo, 1991. "The macroeconomics of the public sector deficit : the case of Argentina," Policy Research Working Paper Series 632, The World Bank.
    4. B. Douglas Bernheim, 1987. "Ricardian Equivalence: An Evaluation of Theory and Evidence," NBER Chapters,in: NBER Macroeconomics Annual 1987, Volume 2, pages 263-316 National Bureau of Economic Research, Inc.
    5. Perron, Pierre, 1989. "The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis," Econometrica, Econometric Society, vol. 57(6), pages 1361-1401, November.
    6. Easterly, William & Schmidt-Hebbel, Klaus, 1991. "The macroeconomics of public sector deficits : a synthesis," Policy Research Working Paper Series 775, The World Bank.
    7. W. M. Corden, 1960. "The Geometric Representation of Policies to Attain Internal and External Balance," Review of Economic Studies, Oxford University Press, vol. 28(1), pages 1-22.
    8. T. W.Swan, 1960. "Economic Control In A Dependent Economy," The Economic Record, The Economic Society of Australia, vol. 36(73), pages 51-66, March.
    9. Schmidt-Hebbel, Klaus & Marshall, Jorge, 1991. "Macroeconomics of public sector deficits : the case of Chile," Policy Research Working Paper Series 696, The World Bank.
    10. Edwards, Sebastian & van Wijnbergen, Sweder, 1987. "Tariffs, The Real Exchange Rate and the Terms of Trade: On Two Popular Propositions in International Economics," Oxford Economic Papers, Oxford University Press, vol. 39(3), pages 458-464, September.
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    Cited by:

    1. Rodrigo Caputo G. & Marco Núñez N. & Rodrigo Valdés P., 2008. "Análisis del tipo de cambio en la práctica," Investigación Conjunta-Joint Research,in: Centro de Estudios Monetarios Latinoamericanos (CEMLA) (ed.), Estimación y Uso de Variables no Observables en la Región, edition 1, volume 1, chapter 11, pages 313-364 Centro de Estudios Monetarios Latinoamericanos, CEMLA.
    2. Montecino, Juan Antonio, 2015. "Capital controls and the real exchange rate: Do controls promote disequilibria?," UMASS Amherst Economics Working Papers 2015-02, University of Massachusetts Amherst, Department of Economics.
    3. Arend, Mario, 2005. "Efectos de una nueva medida de shock monetario bajo el esquema de metas de inflación en Chile
      [Effects of a New Measure of Monetary Shock Under Inflation Targeting in Chile]
      ," MPRA Paper 27156, University Library of Munich, Germany.
    4. Cerezo Aguirre, Sergio & Salazar Gómez, Denise, 2012. "Tipo de cambio real en Bolivia:equilibrio y desalineamientos," Revista Latinoamericana de Desarrollo Economico, Instituto de Investigaciones Socio-Económicas (IISEC), Universidad Católica Boliviana, issue 18, pages 9-32, Noviembre.

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