The behavior of hake prices in Chile: is the world market leading?

Submitted by NENRE Concepcion on

In this study we analyzed price determination throughout the Chilean hake market chain. To analyze the relationship between different prices which participate in this chain, a VECM model was successfully estimated.

Fisheries

Regression with Dummy Explanatory Variables: Some Methodological Issues

Submitted by Salvatory Macha on

The study considers the inclusion of dummy explanatory variables (in regression estimation) in both cross –section and time series data. In survey data, a continuous variable may be categorized into a dummy variable dataset whenever the quality, reliability and internal consistency of the continuous data is put into question. In the process of categorization, vita information may be compromised: in other words there is loss of information. Furthermore, an arbitrary choice of cutoff points may yield different regression estimates depending on the cutoff point.

Experiments

A Multimarket Approach for Estimating a New Keynesian Phillips Curve

Submitted by NENRE Concepcion on

We propose a new approach for estimating a “hybrid” New Keynesian Phillips Curve (NKPC) that includes demand pressures coming from disequilibrium relations in three different markets: (1) monetary and financial, (2) international, and (3) labour. Econometric tests indicate that this specification is superior to the traditional NKPC, which includes a single variable to account for demand pressures.

Policy Design