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Public financial support and innovation in Colombian manufacturing firms
(CAF, 2017-05-30)
We evaluate the impact of public financial support, both subsidies and credit, on different types of innovation in Colombian industry. We compare it with the effects of financing innovation with own resources and with ...
Are Taxes Credits Effective in Developing Countries? The Recent Uruguayan Experience
(CAF, 2017-05-17)
Investment promotion through tax incentives has been a key component of the growth strategies pursued in Uruguay by the last three administrations. A new regime was established, regulated by the Executive Decree 455, which ...
Capital Specificity, the Distribution of Marginal Products and Aggregate Productivity
(CAF, 2017-05-08)
This paper studies the role of capital specificity and investment irreversibility on the distribution of marginal products of capital and aggregate TFP. We use a methodology new to the misallocation literature, based on ...
Public-infraestructure and energy-subsidy policies, energy access by the poor and long-term macroeconomic performance
(CAF, 2017-04-24)
This paper presents the main set-up and long-run results from a simple deterministic version of a dynamic stochastic general equilibrium model of a small open economy in Kawamura (2017). The model assumes two types of ...
Characterizing Fuel Choices and Fuelwood Use for Residential Heating and Cooking in Urban Areas of Central-Southern Chile: the Role of Prices, Income, and the Availability of Energy Sources and Technology
(CAF, 2017-04-24)
This paper analyzes empirically the determinants of fuel choices and intensity of fuelwood use for residential heating and cooking in central-southern Chile. By using information from a sample of 2,761 households in nine ...
The distortionary effect of size and factor dependent policies: The role of factor substitutability in measuring the impact of a child-care subsidy policy in Chile
(CAF, 2017-04-04)
In an effort to increase female labor participation in Chile, firms with more than 19 women must pay for childcare for the children of their female employees. We evaluate the effects of such policy using a model that ...
Distributed Photovoltaic Power Generation: Possibilities, Benefits, and Challenges for a Widespread Application in the Mexican Residential Sector
(CAF, 2017-04)
Mexico plans to implement a national program to support the adoption of distributed photovoltaic generation (DPVG) among qualified households. The main objectives of such a program would be to reduce the burden of the ...
Measuring the Cost of Congestion in Highly Congested City: Bogotá
(CAF, 2017-04)
We provide a novel approach to estimate the deadweight loss of congestion. We implement it for road travel in the city of Bogotá using information from a travel survey and counterfactual travel data generated from Google ...
Benefits to Elite Schools and the Expected Returns to Education: Evidence from Mexico City
(CAF, 2017-03-10)
We exploit data on the future earnings students at high school completion expect to receive with and without a college education, together with information on learning achievement and college outcomes, to study the benefits ...
Informality and Productivity: The Role of Unemployment Insurance Schemes
(CAF, 2017-02-22)
We study the design of optimal unemployment protection schemes to evaluate its impact on labor markets, welfare and productivity. We consider a life-cycle economies with formal and informal labor markets, unobservable ...