Title Business cycle accounting for Chile / prepared by Ina Simonovska and Ludvig Söderling

Published [Washington, D.C.?] : International Monetary Fund, ©2008

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Description 1 online resource (28 pages) : illustrations Series IMF working paper ; WP/08/61 IMF working paper ; WP/08/61. Contents I. Introduction; II. Analytical Framework; A. Calibration; Tables; 1. Parameter Estimates for Benchmark Economy; III. Results; Figures; 1. Benchmark Model-Measured Wedges; 2. Benchmark Model-Output Data and Efficiency Wedge; IV. Alternative Specification: Adjusting for Copper Investment; 2. Parameter Estimates for Alternative Economy; 3. Alternative Model-Measured Wedges; 4. Alternative Model-Output Data and Efficiency Wedge; 5. Alternative Model-Investment Data and Efficiency Wedge; 6. Alternative Model-Hours Data and Efficiency Wedge; V. Conclusion and Policy Recommendations 7. Alternative Model-Consumption Data and Efficiency WedgeReferences; Appendices; 1. Data Sources and Calculation; 2. Results from Benchmark Model; 3. Sensitivity Analysis Summary We investigate sources of economic fluctuations in Chile during 1998-2007 within the framework of a standard neoclassical growth model with time-varying frictions (wedges). We analyze the relative importance of efficiency, labor, investment, and government/trade wedges for business cycles in Chile. The purpose of this exercise is twofold: (i) focus the policy discussion on the most important wedges in the economy; and (ii) identify which broad class of models would present fruitful avenues for further research. We find that different wedges have played different roles during our studied period, but that the efficiency and labor wedges have had the greatest impact. We also compare our results with existing studies on Argentina, Brazil, and Mexico Bibliography Includes bibliographical references (page 18) Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Business cycles -- Chile -- Econometric models Business cycles -- Econometric models Economic history SUBJECT Chile -- Economic conditions -- 1988- -- Econometric models Subject Chile Form Electronic book Author Söderling, Ludvig, author. International Monetary Fund. Western Hemisphere Department. ISBN 1282462202 9781282462205

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