Now showing items 1-5 of 5

    • 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 ...
    • Missing aggregate dynamics: on the slow convergence of lumpy adjustment models 

      Berger, David; Caballero, Ricardo; Engel Goetz, Eduardo (Universidad de Chile, Facultad de Economía y Negocios, 2015-11)
      When microeconomic adjustment is lumpy, the VAR-estimated persistence of the corresponding aggregated variable is downward biased. The extent of this bias decreases with the level of aggregation, yet convergence is very ...
    • Price Rigidities. Asymmetries and Output Fluctuations 

      Caballero, Ricardo; Engel Goetz, Eduardo (National Bureau of Economic Research, 1992)
      In this paper we characterize the average response of output to aggregate demand shocks in an economy where individual firms follow state-dependent pricing rules. We find that: (i) the average response of output to aggregate ...
    • Soft budgets and renegotiations in public-private partnerships: theory and evidence 

      Engel Goetz, Eduardo; Fischer Barkan, Ronald; Galetovic Potsch, Alexander (Universidad de Chile, Facultad de Economía y Negocios, 2015-07)
      Public-private partnerships (PPPs) are an increasingly popular organizational form of providing public infrastructure. They can increase e ciency and improve resource allocation, yet pervasive contract renegotiations ...
    • Understanding Tax Evasion Dynamics 

      Engel Goetz, Eduardo; Hines Jr., James R. (National Bureau of Economic Research, 1999)
      Americans who are caught evading taxes in one year may be audited for prior years. While the IRS does not disclose its method of selecting tax returns to audit, it is widely believed that a taxpayer's probability of being ...