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

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