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Idiosyncratic Shocks and Aggregate Fluctuations in an Emerging Market
This paper provides the first assessment of the contribution of idiosyncratic shocks to aggregate fluctuations in an emerging market using confidential data on the universe of Chilean firms. We find that idiosyncratic shocks account for more than 40 percent of the volatility of aggregate sales. Although quite large, this contribution is smaller than documented in previous studies based on advanced economies, despite a higher degree of market concentration in Chile.We show that this finding is explained by larger firms being less volatile and by weaker propagation effects across Chilean firms.
Comfort in Floating: Taking Stock of Twenty Years of Freely-Floating Exchange Rate in Chile
Chile offers an example of a country that has overcome the fear of floating by reducing balance sheet mismatches, enhancing financial market development, as well as improving monetary, fiscal, and political institutions, and strengthening policy credibility. Under the floating regime, Chile’s economic adjustment to external shocks appears significantly improved, and its exchange rate pass-through has substantially declined. Our results reinforce the case that moving to a clear and credible floating regime can be associated with a reduction in the fear of floating via economic transformation (like smaller balance sheet mismatches, a larger hedging market, and a lower exchange rate pass-through).
Revista de educación
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No Ordinary Man
Hailed by Choice as "a fascinating story," this profile of Cervantes will captivate both scholarly and lay readers. It traces the stranger-than-fiction adventures of the "Spanish Shakespeare" — as a spy, soldier, hostage, tax collector, poet, playwright, and creator of Don Quixote — incorporating original research and previously unpublished material.
The Seminole
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The Mexican Filmography, 1916 through 2001
Mexican cinema has largely been overlooked by international film scholars because of a lack of English-language information and the fact that Spanish-language information was difficult to find and often out of date. This comprehensive filmography helps fill the need. Arranged by year of release and then by title, the filmography contains entries that include basic information (film and translated title, production company, genre, director, cast), a plot summary, and additional information about the film. Inclusion criteria: a film must be a Mexican production or co-production, feature length (one hour or more, silent films excepted), fictional (documentaries and compilation films are not included unless the topic relates to Mexican cinema; some docudramas and films with recreated or staged scenes are included), and theatrically released or intended for theatrical release.
Análisis político
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