## The Empirical Regularities of the Real Exchange Rate from a Competitive Perspective: The Case of Chile |

### What people are saying - Write a review

We haven't found any reviews in the usual places.

### Common terms and phrases

actual data assumption autocorrelation autoregressive process calibrated Chile Chilean economy choice Cholesky decomposition coefficients competitive equilibrium model consumer price index consumption copper price Correlation RER correspond denoted dynamic empirical regularities endogenous equation exchange rate regimes exogenous capital inflows exports over imports fishmeal foreign capital inflows foreign debt free parameters Granger causality high variability import competing sector inflows are exogenous intertemporal labor allocation decision law of motion less developed countries level of foreign market imperfections matrix model assuming Mussa negative correlation nominal exchange rate objective function observed op.cit optimal decision rule paper prediction price of copper problem real exchange rate real wage reallocation of labor relative price replicate representative agent specific factor model standard deviation statistics steady state level steady state solution stochastic shocks stochastic simulations stylized facts theoretical model total exports tradable sector traditional exportable sector variance vector autoregressive wage indexation welfare maximizing solution