Chile: Selected Issues

International Monetary Fund

No 2007/332, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper analyzes the properties of the fiscal surplus rule, a key pillar of Chile’s macroeconomic framework. The findings suggest that the rule is near the volatility-minimizing efficiency frontier. The paper assesses the vulnerability of the Chilean banking system to external and domestic shocks, and examines recent trade performance. The study finds that both exports and imports have been driven predominantly by demand factors. There is also some evidence that trade liberalization has contributed to the recent trade expansion, but exchange rate effects are only found to have a marginal impact.

Keywords: ISCR; CR; trade; bank; structural surplus; economy affect bank risk; trade volume; Chilean bank; exchange rate effect; price elasticity; bank heterogeneity; Chilean banking system; elasticities in Chile; trade development; risk attitude; credit growth; Credit; Financial sector development; Metal prices; Copper; Real effective exchange rates; Global (search for similar items in EconPapers)
Pages: 12
Date: 2007-09-26
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2007/332

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