Libros

Resumen:

The recent increase in trade liberalization has had substantial distributional consequences, although the direction of the relationship and the mechanism driving it has been open to debate. This paper analyzes the impact of tariff reductions on the dynamics of wealth and income inequality in a growing economy in which agents accumulate both physical capital and international bonds. Our study, which comprises a combination of formal analysis, supplemented with numerical simulations, suggests that in the long run the tariff reduction will be expansionary and be associated with both a permanent reduction in wealth inequality but an increase in income inequality, the magnitudes of which depend upon the speed with which the tariff reduction is implemented. For plausible parameterization of the model our numerical simulations seem to be generally consistent with empirical evidence.

Resumen:
In this paper we analyze the impact of government-guaranteed credit for higher education in Chile on outcomes for high school students. Using minimum requirements in the national admission test to qualify for credit and the fact this reform should have affected students in the margin of attending college, we estimate the impact of the reform using different data sources and aggregation levels. First, using administrative data at students level for those cohorts who were high school freshmen before 2005 we find that students who who belonged to schools with average scores that were below the minimum requirement for credit in the year previous to the reform, improve their school completion, simultaneously to greater availability of college aid. Then, using household data aggregated at municipal level, we find a drop in the probability of dropping out and being a teen mom, as well an increase in high school completion and college attendance.