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Kosmos
Astronomia Astrofizyka
Inne

Kultura
Sztuka dawna i współczesna, muzea i kolekcje

Metoda
Metodologia nauk, Matematyka, Filozofia, Miary i wagi, Pomiary

Materia
Substancje, reakcje, energia
Fizyka, chemia i inżynieria materiałowa

Człowiek
Antropologia kulturowa Socjologia Psychologia Zdrowie i medycyna

Wizje
Przewidywania Kosmologia Religie Ideologia Polityka

Ziemia
Geologia, geofizyka, geochemia, środowisko przyrodnicze

Życie
Biologia, biologia molekularna i genetyka

Cyberprzestrzeń
Technologia cyberprzestrzeni, cyberkultura, media i komunikacja

Działalność
Wiadomości | Gospodarka, biznes, zarządzanie, ekonomia

Technologie
Budownictwo, energetyka, transport, wytwarzanie, technologie informacyjne

Revista de Análisis Económico – Economic Analysis Review

  • This paper contributes relevant empirical evidence which indicates the existence of difference in default rate of loans between male and female. It concludes that independent of types of loans, the default rate of female is less than male. Moreover this paper analyzes the effect of other variables as Married Status and Size/Income over default rate.

    http://www.rae-ear.org/index.php/rae/article/view/398 2014/04/27 - 08:52
  • In this paper the neoclassical convergence hypothesis is tested for the thirteen regions of Chile using cross-section techniques and the time-series based tests proposed by Bernard, A. and S. Durlauf, 1995, “Convergence in International Output”, Journal of Applied Econometrics 10 (2), pp. 97-108. Cross-section analysis in combination with a Bayesian Modeling Averaging strategy supports the convergence hypothesis, despite of some instability detected in the estimated speed of convergence. When applying time-series based tests, the no convergence null hypothesis cannot be rejected at the usual significance levels. When clustering the Chilean regions into three different groups, however, evidence of cointegration within these groups is found, indicating that the regional growth process in Chile is driven by a lower number of common trends.

    http://www.rae-ear.org/index.php/rae/article/view/399 2014/04/27 - 08:52
  • We use recent unconditional quantile regression methods (UQR) to study the distributive effects of education in Argentina. Standard methods usually focus on mean effects, or explore distributive effects by either making stringent modeling assumptions, and/or through counter- factual decompositions that require several temporal observations. An empirical case shows the flexibility and usefulness of UQR methods. Our application for the case of Argentina shows that education contributed positively to increased inequality in Argentina, mostly due to the effect of strongly heterogeneous effects of education on earnings.

    http://www.rae-ear.org/index.php/rae/article/view/400 2014/04/27 - 08:52
  • Chile has experienced tremendous changes over the past centuries. Notwithstanding the importance of many of these transformations, the demographic change has been crucial, given its influence on the whole Chilean society. This paper inquires into the effects of the Chilean demographic transition on the fiscal policies implemented by the government throughout a 150 years period. The results suggest a correlation between demographic variables and fiscal expenditure on different goods. Particularly, the estimations find a positive impact of a younger population on educational expenditure and negative effects of the share of adult population on fiscal expenditures.

    http://www.rae-ear.org/index.php/rae/article/view/401 2014/04/27 - 08:52
  • In this paper we evaluate exchange rate predictability using a framework developed by Giacomini and White (2006). This new framework tests for conditional predictive ability rather than unconditional predictive ability, which has been the standard approach. Using several shrinkage based forecasting methods, including new methods proposed here, we evaluate conditional predictability of five bilateral exchange rates at differing horizons. Our results indicate that for most currencies a random walk would not be the optimal forecasting method in a real time forecasting exercise, at least for some predictive horizons. We also show that our proposed shrinkage methods in general perform on par with Bayesian shrinkage and ridge regressions, and sometimes they even perform better.

    http://www.rae-ear.org/index.php/rae/article/view/382 2013/11/05 - 23:40
  • This paper attempts to provide a comprehensive overview on the theoretical and empirical analysis of the selection and assessment of exchange rate regimes. The literature can be divided into two main groups: classical and modern. The first group refers to earlier studies examining the differences between floating and fixed exchange rate regimes. The second group is focused on the trade-off between credibility and flexibility, the economic performance and currency crisis, among others. In addition, this paper reviews why many countries follow de facto regimes different from their de jure regimes.

    http://www.rae-ear.org/index.php/rae/article/view/383 2013/11/05 - 23:40
  • This paper empirically explores the effect of the Universal Child Allowance –a conditional Cash Transfer Program recently launched in Argentina– on backwardness in school. Specifically, we evaluate whether children enrolled in the program closed their education gap, differentiating between children and adolescents.Using propensity score as a prelude to the estimation of regression, we found preliminary evidence that the government subsidy affects primary and secondary students differently. The results are robust to different uses of the different samples and comparison samples observation.

    http://www.rae-ear.org/index.php/rae/article/view/384 2013/11/05 - 23:40
  • This paper uses a firm-specific method for measuring monopsonistic behavior developed by Brummund (2012) using data for Chilean manufacturing plants for the period 2001-2006. We find that there is significant heterogeneity in labor market power across plants and that nearly a quarter of the plants have a significant level of labor market power. It is also shown that individual plant characteristics explain more of the variation in monopsonistic behavior than do the characteristics of the accompanying labor market. These results are relevant for labor market policy since and suggest that a binding minimum wage could have ambiguous effects on welfare.

    http://www.rae-ear.org/index.php/rae/article/view/385 2013/11/05 - 23:40
  • This paper provides empirical evidence about the relationship between wages and their determinants in the Spanish economy from a macroeconomic perspective, as well as about the adjustment speed back to long run equilibrium, estimating an error correction mechanism by non-linear methods. The results reveal that the unemployment rate and the bargaining variables have no effect on the evolution of wages. The variable that explains the evolution of wages in the long term is prices, with wages showing slightly inflationary behavior. In the short term, wages are explained by their past values, reflecting a nominal inertia

    http://www.rae-ear.org/index.php/rae/article/view/rae-28-1 2013/04/24 - 17:41
  • Nine versions of Wagner’s law are examined employing annual time-series data on Bolivia for the period 1940-2010. The analysis is an advance over previous work in several ways. First, the stationarity properties and the order of integration of the data are investigated using the Augmented Dickey-Fuller and the Phillips and Perron tests. Second, the hypothesis of a long-run relationship between different types of government expenditures and income is tested employing the methodology of cointegration analysis. Third, Error Correction Models are utilized to determine the direction of causality between the variables of interest. Lastly, the study comprises a period of seventy years, the longest of its kind for Bolivia. Consistent with Wagner’s proposition, bidirectional causality is found between income and government expenditures in six of the nine versions of the law.

    http://www.rae-ear.org/index.php/rae/article/view/rae-28-2 2013/04/24 - 17:41
  • We test two questions: (i) Is the Bayesian Information Criterion (BIC) more parsimonious than Akaike Information Criterion (AIC)? and (ii) Is BIC better than AIC for forecasting purposes? By using simulated data, we provide statistical inference of both hypotheses individually and then jointly with a multiple hypotheses testing procedure to control better for type-I error. Both testing procedures deliver the same result: The BIC shows an in- and out-of-sample superiority over AIC only in a long-sample context.

    http://www.rae-ear.org/index.php/rae/article/view/rae-28-3 2013/04/24 - 17:41
  • Manufacturing exhibits nonlinear trends in production levels, one being an active state and the other a passive state. We use a Markov model to estimate these two states, which are tied to United States imports of Mexican products. A regression is made in order to estimate whether there is an expansion or contraction in order to show which sectors have a greater propensity to expand or to decrease, there are several cases where the contracting level of output lasts longer than the expansionary alternative. This method of analysis can be applied to any Latin American economy.

    http://www.rae-ear.org/index.php/rae/article/view/rae-28-4 2013/04/24 - 17:41
  • This paper reviews extensively the literature on asset pricing and builds a structural dynamic general equilibrium model with financial assets. We obtain the policy function of the calibrated model and approximate it up to third order. We derive asset pricing and various premiums conditions up to the third order, meaning that returns depend on the first three conditional moments. We obtain a hypothetic yield curve whose curvature increases with the order of the approximation because of the premiums. In addition, impulse response functions of various fundamental shocks illustrate the effect on the level and slope of bond yields with several maturities and on breakeven inflation. Important shocks are technology and inflation target shocks

    http://www.rae-ear.org/index.php/rae/article/view/rae272-1 2012/11/10 - 00:27
  • Gasoline taxes usually represent a large fraction of the final price of gasoline paid by consumers. As a result, when gasoline prices increase too much public pressure builds to reduce or even eliminate gasoline taxes, which implicitly assumes these taxes are fully passed on to final consumers. However, there exist few empirical studies about the incidence of gasoline taxes, especially for developing countries. Using monthly data for the period 2000-2011, this work contributes to the literature providing empirical evidence about the gasoline tax incidence on prices in Chile. The results show a tax pass-through ranging between 100% and 120% in the wholesale markets of 93 and 97 octane unleaded gasoline, while in retail markets the tax pass-through rate is 110% and 100%, respectively. Therefore, gasoline taxes in Chile are more than fully borne by consumers, which is a result consistent with the existence of some degree of market power in gasoline markets

    http://www.rae-ear.org/index.php/rae/article/view/rae272-2 2012/11/10 - 00:27
  • This article develops a Large Bayesian VAR with more than 100 variables for the Chilean economy, as Banbura, Giannone and Reichlin (2010) shows that, when the degree of shrinkage is set in relation to the cross-sectional dimension of the sample (bayesian shrinkage), the forecasting performance of a VAR can be improved by adding macroeconomic variables and sectoral information. The results show that the large bayesian VAR compares favorably with some univariate models. It further examines the impulse response functions to a monetary shock, as well as some sectoral shocks

    http://www.rae-ear.org/index.php/rae/article/view/rae272-3 2012/11/10 - 00:27
  • This paper aims to assess the effects of foreign financial shocks on the Chilean economy, for which a model including foreign and domestic series, for both real and financial variables at quarterly frequency is estimated. Among the main results, it is found that Chilean GDP is negatively and significantly affected by shocks in the volatility of foreign stock markets, while the Chilean currency depreciates and the domestic interest rate decreases due to this type of innovations.

    http://www.rae-ear.org/index.php/rae/article/view/rae272-4 2012/11/10 - 00:27
  • This research gives the magnitude, evolution and characteristics of academic and socioeconomic polarization in the Chilean school system. After examining the importance of the education system as a means of social cohesion, we analyze the implications of distribution processes of students in their education and the main background on the Chilean education system. Furthermore, the paper conceptualizes the notion of polarization, which is related to two aspects: the alienation or distance that students have with students different from them, and the identification or identity that individuals develop with others of similar characteristics. Using SIMCE databases from the last decade, we create and formalized three different indicators of polarization to assess the school system. The results show that the degree of academic and socio-economic polarization of the Chilean school system over the last decade has been constant, and in some cases increasing. Additionally, the measurement that determines the degree of polarization shows high levels socioeconomic and academic polarization, which is related to processes of fragmentation and clustering. These results show the necessity of analyzing the impact of educational policies on the processes of social cohesion and integration in the school system. This has to consider the importance of the school as a privileged place for these goals, as well as on the development of skills, values and cognitive thinking and noncognitive skills for all children. These results have been questioned from recent conflicts that have occurred in the education sector.

    http://www.rae-ear.org/index.php/rae/article/view/rae272-5 2012/11/10 - 00:27
  • This paper test the null hypothesis of linearity against a specific form of nonlinearity in the Data Generating Process (DGP) of the unemployment rate and the difference between the inflation rate (measured as the twelve months variation of CPI and CPIX1) and the inflation target, using twenty years of data (1990-2009) and time series models. The rejection of the null implies that the series has more than one regime or state. The regime switching process could explain the recent boom/bust of inflation observed during these years, or the unemployment rate after the Asian crisis, for instance. The main results are: it is not possible to reject linearity in the deviation of inflation from the inflation target. During the last twenty years, inflation has converged smoothly to the target without any regime switching. The speed of convergence to the target has been constant over the years and inflationary shocks have been dissolved with the usual degree of persistency. Finally, strong evidence is found against linearity in the unemployment rate. On the contrary, it fluctuates with high probability between states or regimes through time.

    http://www.rae-ear.org/index.php/rae/article/view/rae28-1 2012/04/21 - 20:30
  • In this paper, we study household debt default behavior in Chile using survey data. Previous research in this area suggests financial and personal variables help estimate individual and group probabilities of default. We study mortgage and consumer default separately, as the default decisions and overall borrower behavior are different for each type of debt. Our study finds that income and income-related variables are the only significant and robust variables that explain default for both types of debt. Demographic or personal variables are affected by only one type of debt but not more. For example, the level of education is a factor that affects mortgage default, whereas the determinants of consumer debt default include the age of the household head, and the number of people within the household that contribute to the total family income. We find that the probability of default decreases as the family income increases, and that our estimations are consistent with other studies similar to ours.

    http://www.rae-ear.org/index.php/rae/article/view/rae28-2 2012/04/21 - 20:30
  • This paper proposes the inflow into non-performing loans (INPL) ratio, defined as the change in the stock of non-performing loans adjusted by write-offs and standardized by loans, as the main measure to be used for modelling the credit risk of the Chilean banking system. In particular, the paper identifies certain statistical and conceptual advantages of this measure with respect to loan loss provisions (LLP), which support this idea. First, the INPL ratio by type of credit has a greater time span than LLP. Second, the forward-looking nature of LLP –one of its main advantages over the INPL ratio– is applicable only from 2004 onward due to various changes in Chilean reporting standards. Third, LLP is discretionary because provisioning is made on the basis of relative risk aversion of banks. Fourth, the INPL ratio produces smoother series than LLP for consumer and mortgage loans. In addition, the dynamic structure observed in both time series does not differ significantly. The econometric model estimated for the period January 1997 to June 2010 shows that the INPL ratio has statistically significant relations with macroeconomic aggregates such as the annual output growth, the short and long term interest rates, the annual inflation rate, the peso-dollar exchange rate, and non expected credit growth. Finally, the out-of-sample forecasts indicate differences between the actual and projected INPL ratios that are economically significant only in the case of mortgage credit. For the remaining portfolios, the evolution of this ratio during the period of July 2008 to June 2010 does not differ significantly from that predicted by the econometric model.

    http://www.rae-ear.org/index.php/rae/article/view/rae28-3 2012/04/21 - 20:30
  • This article examines the Day of the Week Effect for the main stock markets in Latin America in Argentina, Brazil, Chile, Colombia, Mexico, and Peru, during the period, 1993-2007. I undertake three different analyses, including GARCH models for the returns and volatility of daily returns by day of the week for the major stock market indexes in the region. I document significant evidence of a Monday Effect (lower than expected returns) or a Friday Effect (higher than expected returns) in many cases in the region. Thus, despite the mitigating influences of longstanding awareness of these anomalies and lowered information and transaction costs from the growth of the internet, the Day of the Week Effect has persisted into recent times

    http://www.rae-ear.org/index.php/rae/article/view/rae28-4 2012/04/21 - 20:30
  • Trade data shows that real exchange rate fluctuates more than other variables such as consumption and GDP, and also presents significant deviations from the Law of One Price. In light of these facts, this paper develops and estimates a non-monetary DSGE model under financial autarky for the international trade of goods and services between Chile and the U.S. In this context, the higher volatility of the real exchange rate is explained by the existence of transaction costs and varying degrees of imperfect substitution in consumption between home and foreign goods which endogenously induce a home bias effect. The results reveal that the estimated transaction costs and the asymmetric home bias effect content in the data would be responsible for the low correlation between consumption in both countries and the higher real exchange rate fluctuations. Finally, the model is able to replicate much of the stylized facts observed in the data, but fails to address the Backus-Smith puzzle.

    http://www.rae-ear.org/index.php/rae/article/view/rae27-1 2012/01/04 - 14:15
  • Trade data shows that real exchange rate fluctuates more than other variables such as consumption and GDP, and also presents significant deviations from the Law of One Price. In light of these facts, this paper develops and estimates a non-monetary DSGE model under financial autarky for the international trade of goods and services between Chile and the U.S. In this context, the higher volatility of the real exchange rate is explained by the existence of transaction costs and varying degrees of imperfect substitution in consumption between home and foreign goods which endogenously induce a home bias effect. The results reveal that the estimated transaction costs and the asymmetric home bias effect content in the data would be responsible for the low correlation between consumption in both countries and the higher real exchange rate fluctuations. Finally, the model is able to replicate much of the stylized facts observed in the data, but fails to address the Backus-Smith puzzle.

    http://www.rae-ear.org/index.php/rae/article/view/rae27-1 2012/01/04 - 14:15
  • The purpose of this paper is to investigate whether a fiscal sustainability indicator (FSI) can be used as a leading indicator to predict currency crises. Firstly, the sustainability of the fiscal policy in 17 developing countries is analysed using a FSI developed by Croce and Juan-Ramón (2003). Then, the FSI is evaluated in order to help predict currency crises. Using a nonlinear Markov-switching model, and applying the Gibbs sampling approach, it is found that the FSI influences the probability of entering a currency crisis period. Also, in the absence of official definitions for currency crises, different definitions are used to evaluate whether they induce different results in the analysis. In general, the results highlight how an unsustainable fiscal position leads to the eventual collapse of the exchange rate in some developing countries.

    http://www.rae-ear.org/index.php/rae/article/view/rae27-2 2012/01/04 - 14:15
  • The purpose of this paper is to investigate whether a fiscal sustainability indicator (FSI) can be used as a leading indicator to predict currency crises. Firstly, the sustainability of the fiscal policy in 17 developing countries is analysed using a FSI developed by Croce and Juan-Ramón (2003). Then, the FSI is evaluated in order to help predict currency crises. Using a nonlinear Markov-switching model, and applying the Gibbs sampling approach, it is found that the FSI influences the probability of entering a currency crisis period. Also, in the absence of official definitions for currency crises, different definitions are used to evaluate whether they induce different results in the analysis. In general, the results highlight how an unsustainable fiscal position leads to the eventual collapse of the exchange rate in some developing countries.

    http://www.rae-ear.org/index.php/rae/article/view/rae27-2 2012/01/04 - 14:15
  • Notwithstanding the effects of the expansive policies in the advanced economies, due to the 2008 financial crises, could raise their interest rates, generating a crowding-out effect over emerging market debt, this relation could not hold given the better fiscal position of these economies, such as Chile. In particular, higher interest rates in advanced economies could reflect a higher risk of default, consistent with their fiscal fragility.

    http://www.rae-ear.org/index.php/rae/article/view/rae27-3 2012/01/04 - 14:15
  • Many authors stress the importance of relationships between sectors for the economic growth. Therefore the concept of linkage appears in the definition of two of the most traditional concepts in the input-output analysis: the “key sector” and cluster. In this paper, key products and activities are identified for the Chilean regions, the clusters that form and the structural similarity that exists between them. For this, we use a combination of so-called Important Coefficients and Fields of Influence. The results indicate that the regions that are most similar are: Tarapacá and Antofagasta, Biobío and Los Lagos. Besides the “developed” regions concept that is associated with a high division of labor and coordination between sectors, they have similar production structures and are very different from those that have “less development”.

    http://www.rae-ear.org/index.php/rae/article/view/rae27-4 2012/01/04 - 14:15
  • Title: THE HARD TASK OF REFORMING REGULATORY INSTITUTIONS.Based on the book tribute to the Nobel Prize in Economics 2009 Oliver Williamson, this essay summarizes the fourteen chapters of the book and presents valuable applications to different issues of regulatory policy in Chile. Concludes this essay with a strong recommendation to policy makers and the applied academia to keep in mind a number of issues delivered by the new institutional economics, in particular those regarding reforms in the areas of utilities and public infrastructure.

    http://www.rae-ear.org/index.php/rae/article/view/art26-1 2011/08/07 - 13:53
  • Title: ENVIRONMENTALLY EXTENDED SOCIAL ACCOUNTING MATRIX FOR ECONOMIC ANALYSIS OF THE BIO BIO REGION.We elaborate an Environmentally Extended Social Accounting Matrix for the Bío Bío Region. Initially, we apply the Cross Entropy method for updating a Social Accounting Matrix of this region from 1996 to 2006. This matrix provides the basis for a discussion of multipliers, which aims to identify the productive sectors of the region that would generate the most beneficial impacts on production, equity, poverty, and environmental pollution. The paper results are used to assess the priority sectors selected by the Bio-Bio’s Productive Development Agency.

    http://www.rae-ear.org/index.php/rae/article/view/art26-2 2011/08/07 - 13:53
  • Title: OPENNESS AND TOTAL FACTOR PRODUCTIVITY: TEST OF TEMPORAL COINCIDENCE OF THE STRUCTURAL BREAKS FOR LATIN AMERICA AND THE CARIBBEANWe study the existence of a structural break in TFP and in several indicators of openness for a sample of 20 Latin American and Caribbean economies for the period 1960-2005. For this purpose, the tests of Zivot and Andrews (1992) and Bai and Perron (1998) on a series of TFP computed from a development accounting exercise (Hsieh and Klenow, 2010) and alternative measures of openness with different characters (Wacziarg, 2001) have been used. The cases of breaks on TFP during the consolidation process of openness in the region (1985-1995) are not significant. Shocks in openness seem to have effects on the rate of growth of TFP.

    http://www.rae-ear.org/index.php/rae/article/view/art26-3 2011/08/07 - 13:53
  • Title: MISALIGNMENT OF COPPER PRICE: 2002-2009.This paper analyzes copper price behavior during 2002-2009 while incorporating the role of fundamentals in its determination. The main conclusion is that fluctuations in the dollar, global demand and revisions to expectations about future prices are the main factors behind copper prices during that period. Purely financial factors seem to have a statistically significant impact only in the short term.

    http://www.rae-ear.org/index.php/rae/article/view/art26-4 2011/08/07 - 13:53
  • In this paper we provide evidence of exchange rate predictability for a selected emerging market economy (EME) at intermediate horizons, arguably, the most relevant for policy purposes. This is important because the existing literature on exchange rate predictability has mainly focused on developed economies, leaving relatively unexplored the question for EME. By making use of a unique quarterly database of external assets and liabilities for Chile, we show that a measure of external imbalances is able to predict the real exchange rate over horizons of up to two years. Robust out-of-sample evidence on predictability reflects the fact that the external balance’s importance to the exchange rate has risen in recent years and/or the precision of parameter estimates rises as sample size grows larger. When we break down our measure for external imbalances into its three component ratios (exports to imports, exports to assets, and assets to liabilities), we find that predictability is mainly driven by the last two. Our results suggest that researchers and policymakers should pay attention to external imbalances to understand the future dynamics of the real exchange rate.

    http://www.rae-ear.org/index.php/rae/article/view/art26-5 2011/08/07 - 13:53
  • Según el informe del PNUD (2010) hay tres características que describen la desigualdad en Latinoamérica y el Caribe. La desigualdad “es alta, es persistente y se reproduce en un contexto de baja movilidad socioeconómica”. El mismo informe señala que estas características son transversales a países en distintos períodos de crecimiento, a diferentes regímenes políticos y estrategias de intervención pública.1 La persistencia de la inequidad en Latinoamérica a diferentes regímenes y políticas es tan excepcional, que no es raro que la literatura en estos temas haya sido particularmente prolífica en la región en los últimos años. El acceso a bases de datos longitudinales ha puesto énfasis en estudiar la dinámica y determinantes de la pobreza y movilidad de ingresos, su estrecha correlación el fenómeno de la desigualdad. López-Calva y Lustig (2010), por otro lado, muestran una visión que contiene un ligero optimismo al señalar que del 2000 en adelante dos de cada tres países en la región mostraron un descenso en la desigualdad. Al indagar por las posibles causas de tal descenso, los autores concluyen que básicamente este se ha debido, por un lado, a la reducción de la brecha salarial entre los más y los menos educados (que, a su vez, es resultado de la ampliación de cobertura escolar primaria) y, por el otro, al rol de las políticas de transferencias de los gobiernos focalizadas en los pobres. Esto sugiere buenas noticias al resaltar el rol de las políticas públicas en la reducción de desigualdades en el mediano plazo.

    http://www.rae-ear.org/index.php/rae/article/view/intro1 2011/02/01 - 02:21
  • This article reviews evidence on intergenerational social mobility in Latin America. Results indicate that mobility is low in the region, even when compared with the United States and United Kingdom, which rank low on social mobility. The evidence also suggests high levels of immobility at the income distribution’s lower and upper tails. While intergenerational education mobility have improved in recent decades, which may increase income mobility for younger cohorts, overall the region still presents lower intergenerational social mobility. Previous studies suggest that these results might be associated to social exclusion, low access to higher education, and labor market discrimination.

    http://www.rae-ear.org/index.php/rae/article/view/art25-1 2011/02/01 - 02:21
  • In this paper we analyze intergenerational income and schooling mobility during the 1996-2006 decade in Chile. Using the countries most extended household panel survey, we overcome some of the limitations of the previous Chilean studies by using observed income data for both parents and children, as opposed to observed income data only for children and income data that is generated for parents from the information given by their children retrospectively. Following the recent literature, we control our estimates for time-series variation (Lee and Solon, 2009). Our results show high intergenerational income elasticities in comparison to other developing countries, and these values are higher for sons than for daughters. The same results hold for educational mobility. Trends analysis show that the transmission of economic status have remained constant during the last years in Chile, while educational mobility has increased.

    http://www.rae-ear.org/index.php/rae/article/view/art25-2 2011/02/01 - 02:21
  • Applying a dynamic pseudo-panel to the earnings data in Argentina, the present paper estimates the long-term earnings mobility in the period 1985- 2004. The results obtained herein show some earnings mobility over the long term in Argentina for male occupied workers. The results also suggest that the labor market in Argentina does not substantially contribute to the acceleration of the individual’ earnings level recovery after a negative shock.

    http://www.rae-ear.org/index.php/rae/article/view/art25-3 2011/02/01 - 02:21
  • This paper examines the trends and magnitude of earnings differentials among urban and rural workers, and young (18-24 years) and old (25-65 years) workers from 2002 to 2009 in Colombia. Using household surveys data and constructing cells for comparing only workers with the same characteristics, the results from time series and matching decomposition methodologies show that earnings in the groups of interest have not diverged over time. However, the earnings differentials are high at around –50 percent for rural and –40 percent for young workers, of which 14 and 19 percentage points, respectively, remain unexplained after controlling for demographic and job-related characteristics.

    http://www.rae-ear.org/index.php/rae/article/view/art25-4 2011/02/01 - 02:21
  • This paper analyzes the differences in real hourly labor income (RHLI) distributions between urban and rural workers for Uruguay in 2006. A quantile regression decomposition technique is applied in order to examine the urban-rural gap across the entire RHLI distribution. The urban-rural gap was primarily explained by the differences in the distribution of covariates along the entire distribution. Differences in distribution of returns favored the rural workers in most of the RHLI distribution although its contribution decreased across quantiles. The resulting gap in returns was most relevant for the worst off rural workers compared to the urban counterparts in both Montevideo and the rest of the urban centers.

    http://www.rae-ear.org/index.php/rae/article/view/art25-5 2011/02/01 - 02:21
  • Despite the remarkable improvement of female labor market characteristics, a sizeable gender wage gap exists in Colombia. We employ quantile regression techniques to examine the degree to which current small differences in the distribution of observable characteristics can explain the gender gap. We find that the gap is largely explained by gender differences in the rewards to labor market characteristics and not by differences in the distribution of characteristics. We claim that Colombian women experience both a “glass ceiling effect’’ and also (what we call) a “quicksand floor effect” because gender differences in returns to characteristics primarily affect women at the top and the bottom of the distribution. Also, self selection into the labor force is crucial for gender gaps: if all women participated in the labor force, the observed gap would be roughly 50% larger at all quantiles

    http://www.rae-ear.org/index.php/rae/article/view/art25-6 2011/02/01 - 02:21
  • This paper analyses the effects that income nonresponse has on certain well-known inequality coefficients (e.g. Gini, Theil and Atkinson indexes). A number of statistical methods have been developed to impute missing values of incomes for nonrespondents. By simulating several patterns of income nonresponse on actual sub-samples of the Argentinean household survey, this essay analyses the effects that different correction methods produce on a set of inequality coefficients. It is proved that methods often used to correct for nonresponse can introduce important biases on inequality coefficients if the patterns of missingness assumed by such methods do not coincide with the actual pattern.

    http://www.rae-ear.org/index.php/rae/article/view/art25-7 2011/02/01 - 02:21