Now showing items 1-20 of 36

    • A Note on Enforcement Spending and VAT Revenues 

      Engel Goetz, Eduardo; Galetovic Potsch, Alexander; Raddatz, Claudio E. (The MIT Press, 2001)
      Tax compliance studies usually focus on the effect of enforce-ment spending on tax evasion. Reliable estimates are difficult to obtain because evasion data are often suspect. This note shows how tax revenues can be used ...
    • A unified approach to the study of sums, products, time-aggregation and other functions of ARMA processes 

      Engel Goetz, Eduardo (John Wiley & Sons Ltd, 1984)
      Conditions under which sums, products and time-aggregation of ARMA processes follow ARMA models are derived from a single theorem. This characterizes these processes in terms of difference equations satisfied by their ...
    • Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model 

      Bachmann, Rüdiger; Caballero, Ricardo J.; Engel Goetz, Eduardo (AMER ECONOMIC ASSOC, 2013-10)
      The sensitivity of US aggregate investment to shocks is procyclical. The response upon impact increases by approximately 50 percent from the trough to the peak of the business cycle. This feature of the data follows naturally ...
    • THE BASIC PUBLIC FINANCE OF PUBLIC–PRIVATE PARTNERSHIPS 

      Engel Goetz, Eduardo; Fischer Barkan, Ronald; Galetovic Potsch, Alexander (European Economic Association, 2013-02)
      Publicprivate partnerships (PPPs) have been justified because they release public funds or save on distortionary taxes. However, the resources saved by a government that does not finance the upfront investment are offset ...
    • Chile’s fiscal rule as social insurance 

      Engel Goetz, Eduardo; Neilson, Christopher; Valdés Inostroza, Rodrigo (Banco Central de Chile, 2011)
      We explore the role of fiscal policy over the business cycle from a normative perspective, for a government with a highly volatile and exogenous revenue source. Instead of resorting to Keynesian mechanisms, in our framework ...
    • Consumer protection policies and rational behavior 

      Engel Goetz, Eduardo (ILADES-Georgetown University, Universidad Alberto Hurtado, 1995)
      How consumers behave has important consequences when assessing the effectiveness of particular consumer protection policies. In this paper it is argued that policies that rely strongly on consumer rationality, such as ...
    • Could higher taxes increase the long-run demand for capital? Theory and evidence for Chile 

      Bustos, Alvaro; Engel Goetz, Eduardo; Galetovic Potsch, Alexander (Elsevier, 2004)
      On theoretical grounds alone, there is no a priori reason why higher taxes should reduce the desired capital stock, since a tax increase reduces marginal returns but also increases depreciation and interest payment allowances. ...
    • ¿Cómo Licitar una Concesión Vial Urbana? 

      Engel Goetz, Eduardo; Fischer Barkan, Ronald; Galetovic Potsch, Alexander (Centro de Estudios Públicos, 1997)
      En este trabajo se analiza la licitación de concesiones viales urbanas argumentándose que las predicciones de tráfico son aún más imprecisas que en el caso interurbano y que es deseable que el mecanismo de licitación permita ...
    • De deudor a acreedor: La nueva realidad de las finanzas públicas 

      Engel Goetz, Eduardo (EXPANSIVA, 2007)
      Los ingresos fiscales provenientes del cobre durante el 2006 llegaron a niveles nunca antes vistos. Buena parte de la bonanza ha sido ahorrada y será gastada en el futuro, siguiendo la regla de superávit estructural. ¿Es ...
    • Dynamic (S; s) Economies”, (with R. Caballero), 

      Caballero, Ricardo J.; Engel Goetz, Eduardo (The Econometric Society, 1991)
      In this paper we provide a framework to study the aggregate dynamic behavior of an economy where individual units follow (S, s) policies. We characterize structural and stochastic heterogeneities that ensure convergence ...
    • Effective labor regulation and microeconomic flexibility 

      Caballero, Ricardo J.; Cowan, Kevin N.; Engel Goetz, Eduardo; Micco Aguayo, Alejandro (ELSEVIER, 2013-03)
      Microeconomic flexibility is at the core of economic growth in modern market economies because it facilitates the process of creative-destruction. The main reason why this process is not infinitely fast, is the presence ...
    • El trabajo subcontratado y los efectos de sus regulación evidencia para Chile 

      Muñoz Henríquez, Pablo Antonio (Universidad de Chile, 2013-11)
      Haciendo uso de una base de datos de panel con información de empleo contratado y subcontratado a nivel de firma, y explotando la variación que generó la regulación del trabajo en régimen de subcontratación de Chile en ...
    • Explaining investment dynamics in U.S. manufacturing: a generalized (S; s) approach 

      Caballero, Ricardo; Engel Goetz, Eduardo (The Econometric Society, 1999)
      In this paper we derive a model of aggregate investment that builds from the lumpymicroeconomic behavior of firms facing stochastic fixed adjustment costs. Instead of theŽ.standard sharp S, s bands, firms’ adjustment ...
    • Heterogeneities and volatility in emerging countries: financial markets, convergence, and labor markets 

      Farías, María Elisa (Universidad de Chile, 2008-09)
      There is evidence of diverse inefficiencies affecting labor markets of developing countries today. In a context of skill-biased technological change and mismatch between skill requirements and endowments of human capital, ...
    • Heterogeneity and Output Fluctuations in a Dynamic Menu-Cost Economy 

      Caballero, Ricardo; Engel Goetz, Eduardo (Oxford University Press, 1993)
      When firms face menu costs, the relation between their output and money is highly nonlinear. At the aggregate level, however, this needs not be so. In this paper we study the dynamic behavior of a general equilibrium ...
    • Highway franchising and real estate values 

      Engel Goetz, Eduardo; Fischer Barkan, Ronald; Galetovic Potsch, Alexander (ACADEMIC PRESS INC ELSEVIER SCIENCE, 2005-05)
      It has become increasingly common worldwide to auction the construction and operation of new highways to the bidder that charges the lowest toll. The resulting highway franchises often entail large increases in the value ...
    • Highway franchising: pitfalls and opportunities 

      Engel Goetz, Eduardo; Fischer Barkan, Ronald; Galetovic Potsch, Alexander (American Economic Association, 1997)
      We build a conceptual framework to analyze the virtues and limitations of alternative mechanisms that can be used to auction a highway. We argue that current mechanisms, which fix the term of the franchise, create unnecesary ...
    • How to Auction a Bottleneck Monopoly when Underhand Vertical Agreements are Possible 

      Engel Goetz, Eduardo; Fischer Barkan, Ronald; Galetovic Potsch, Alexander (Wiley, 2004)
      A seaport is awarded in a Demsetz auction to the operator bidding the lowest cargo-handling fee. The competitive auction is irrelevant if the port operator integrates into shipping and sabotages competitors, thus providing ...
    • Least‐present‐value‐of‐revenue auctions and highway franchising 

      Engel Goetz, Eduardo; Fischer Barkan, Ronald; Galetovic Potsch, Alexander (The University of Chicago Press, 2001)
      In this paper we show that fixed-term contracts, which are commonly used to franchise highways, do not allocate demand risk optimally. We characterize the optimal risk-sharing contract and show that it can be implemented ...
    • Microeconomic Adjustment Hazards and Aggregate Dynamics 

      Caballero, Ricardo; Engel Goetz, Eduardo (JSTOR, 1993)
      The basic premise of this paper is that understanding aggregate dynamics requires considering that agents are heterogeneous and that they do not adjust continuously to the shocks they perceive. We provide a general ...