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on Central and South America |
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Issue of 2014‒11‒17
eight papers chosen by |
| By: | Miguel Fuentes; Pablo Pincheira; Juan Manuel Julio; Hernán Rincón |
| Abstract: | This paper analyses the effects of sterilised, intraday foreign exchange market operations (non-discretionary and discretionary) on foreign exchange returns and volatility in four inflation targeting economies in Latin America. The distribution of exchange rates during intervention and non-intervention days are first compared, and then event study regressions are used to estimate the impact of intervention (and macro surprises) on exchange rate returns and exchange rate volatility as well as on foreign exchange market turnover (in Colombia). In general, the results suggest that the impact of both non-discretionary and discretionary operations is at times significant but transitory. However, an analysis of Chile’s experience suggests that the announcement effects of even non-discretionary programmes may be significant and persistent. |
| Keywords: | Exchange rate, central bank intervention, microstructure. |
| JEL: | E58 F31 G14 |
| Date: | 2014–10–21 |
| URL: | http://d.repec.org/n?u=RePEc:col:000094:012258&r=lam |
| By: | Scarlato, Margherita; d'Agostino, Giorgio; Capparucci, Francesca |
| Abstract: | This paper examines the effects of Chile Solidario programme on labour market outcomes from a gender perspective. Chile Solidario was implemented as the main anti-poverty programme in Chile in 2002. The purpose of this conditional cash transfer is to provide poor families with auxiliary social services, including support for employment. We compare the gender impact of Chile Solidario using difference-in-differences and regression discontinuity design estimations based on data from the Chile Solidario Panel Survey. We find that the programme has a strong impact on labour market outcomes, but the positive effects are particularly important for men in the beneficiary families. This analysis suggests that cash transfers should be targeted more specifically to women’s needs to contribute to their empowerment. |
| Keywords: | Social Protection; Conditional Cash Transfers; Latin America; Gender; Impact Evaluation |
| JEL: | C10 I38 J16 O15 O54 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:59414&r=lam |
| By: | Laura Hering (Erasmus University Rotterdam, the Netherlands); Rodrigo Paillacar (University of Cergy-Pontoise, France) |
| Abstract: | This paper investigates how internal migration is a affected by Brazil's increased integration into the world economy. We analyze the impact of regional differences in access to foreign demand on sector-specific bilateral migration rates between the Brazilian states for the years 1995 to 2003. Using international trade data, we compute a foreign market access indicator at the sectoral level, which is exogenous to domestic migration. A higher foreign market access is associated with a higher local labor demand and attracts workers via two potential channels: higher wages and new job opportunities. Our results show that both channels play a significant role in internal migration. Further, we find a heterogeneous impact across industries according to their comparative advantage on the world market. However, the impact of market access is robust only for low-educated wor kers. This finding is consistent with the fact that Brazil is exporting mainly goods that are intensive in unskilled labor. |
| Keywords: | Regional migration, international trade, market access, Brazil |
| JEL: | F16 R12 R23 |
| Date: | 2014–07–07 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:uvatin:20140084&r=lam |
| By: | Jairo Núñez Méndez; Juan Mauricio Ramírez; Andres Bateman; Carlos Castañeda |
| Abstract: | La fuerte ola invernal que afectó a Colombia durante 2010 y 2011 generó grandes inundaciones que provocaron una grave emergencia económica y social. Como consecuencia, el Gobierno Nacional tomó la decisión de asignar cuantiosos recursos para rehabilitar y reconstruir las zonas afectadas, recomponer el tejido social de las comunidades damnificadas, mitigar los efectos socioeconómicos que las familias han tenido que soportar como consecuencia de la calamidad, y proporcionar las bases para el desarrollo sostenible de las regiones. |
| Keywords: | Empleo, Generación de empleo, Desarrollo regional, Desarrollo sostenible, Desarrollo comunitario, Ola invernal, Desastre natural |
| JEL: | J20 J23 R11 R12 R13 R58 Q01 Q54 |
| Date: | 2013–02–13 |
| URL: | http://d.repec.org/n?u=RePEc:col:000124:012162&r=lam |
| By: | Maito, Esteban Ezequiel |
| Abstract: | This paper analyzes the valorization process in Chile, Japan, Netherlands and United States, estimating advanced constant and variable capital, turnover speed, capital composition and profit rate on total advanced capital. Furthermore, it analyzes the role of turnover speed in the valorization process. In core countries, turnover speed of capital tends to be higher due to a larger development of productive forces. Thus, in Netherlands, United States and Japan there is higher labor share, representing at the same time, the wage bill adjusted by capital turnover, a lower proportion related to total capital and income, compared to peripheral countries like Chile |
| Keywords: | rate of profit – labor share – turnover speed – value capital composition - annual surplus value rate |
| JEL: | E11 E23 E25 E3 O4 P1 P16 |
| Date: | 2014–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:59283&r=lam |
| By: | James A. Robinson |
| Abstract: | Resumen: La mayoría de los reportes de los problemas de Colombia, que hacen hincapié en las drogas, mafias, grupos guerrilleros de izquierda y grupos paramilitares “de derecha” son engañosos ya que se centran en los síntomas, no las causas. Sostengo que estas son el resultado de la forma en que Colombia es gobernada. Es decir, con una forma de gobierno indirecto, donde las partes funcionales y disfuncionales del país entran en una relación simbiótica. Proporciono ejemplos de esta relación en el trabajo y discuto varios mecanismos que le ayudan a persistir aunque sea terriblemente costoso para los colombianos colectivamente. |
| Keywords: | Elites; Democracia; Desarrollo; Estabilidad; Carteles políticos. |
| JEL: | O10 O2 Z19 |
| Date: | 2013–12–16 |
| URL: | http://d.repec.org/n?u=RePEc:col:000418:012244&r=lam |
| By: | Alfonso Alba; Julio Cáceres-Delpiano |
| Abstract: | By using birth certificates for Chile and Spain we investigate differences in mother and child characteristics according to season of birth. Our findings reveal that children born in winter are more likely to have a mother who is a teenager and unmarried at date of birth. Spanish data also reveals that women giving birth in winter are more likely to be out of the labor force, a result largely driven by high skilled mothers. We additionally find that children born in the winter months have fewer weeks of gestation, lower birth weights and smaller size. Finally for Spain, the 2001 population census and the1999 fertility survey confirm the seasonal pattern in mother characteristics, and indicate that it is mostly driven by women who planned the births |
| Date: | 2014–10 |
| URL: | http://d.repec.org/n?u=RePEc:cte:werepe:we1423&r=lam |
| By: | Ana Balsa; Juanita Bloomfield; Marcelo Caffera |
| Abstract: | This study explores the impact of air pollution on adverse birth outcomes. The study focuses on the effect of breathable particulate matter with diameter of 10 micrometers or less (PM10) on the likelihood of premature birth and low birth weight (LBW). The study exploits the fact that in 2011 the ashes and dust resulting from the eruption of the Puyehue volcano in Chile substantially increased exposure to PM10 in Montevideo, Uruguay. Using prenatal and birth data from the Perinatal Information System for 2010-2012, it is found that increases in quarterly averages of PM10 concentrations beyond 50 µg/m3 decrease birth weight and increase the likelihood of LBW and prematurity at increasing rates. The results also suggest that the effect of PM10 on birth weight works mainly through a higher likelihood of prematurity, rather than through intrauterine growth retardation. The effects increase with each trimester of pregnancy: exposure during the third trimester is the most dangerous. |
| Keywords: | Youth & Children, Human health, Pollution, Particulate matter, Pollution, Low birth weight, Pre-term birth |
| Date: | 2014–09 |
| URL: | http://d.repec.org/n?u=RePEc:idb:brikps:86893&r=lam |