• Asymmetric Effects of Trade and FDI: The Role of Country Size and Bridge Multinational Production 

      Allub, Lian; Aragon, Nicolas (2022-12-13)
      Total gains from openness come through three channels: (i) trade, (ii) domestic multinational production (DMP), and (iii) bridge multinational production (BMP). We develop a quantitative theory to measure the effects of ...
    • Financial Frictions, Trade, and Misallocation 

      Kohn, David; Leibovici, Fernando; Szkup, Michal (CAF; Buenos Aires, 2017-10-07)
      We investigate the extent to which financial frictions shape the aggregate effects of a trade liberalization through their impact on aggregate total factor productivity (TFP) and capital misallocation. We study a small ...
    • Human Capital and Financial Development: Firm-Level Interactions and Macroeconomic Implications 

      Allub, Lian; Gomes, Pedro; Kuehn, Zoë (CAF; Caracas, 2019-12-04)
      Capital-skill complementarity in production implies non-trivial interactions between availability of human capital and financial constraints. Firms that are constrained in their access to finance hire a lower proportion ...
    • Impact evaluation of innovation policy in Brazil 

      Rocha, C. (Caracas, 2018-10-22)
      This paper aims to assess the innovation policy in Brazil after the edition of the innovation law, in 2004, and the fiscal subsidies to innovation law, in 2005. We use data from the Brazilian Innovation Survey and from the ...
    • Lasting Lessons: The Long-Term Impacts of School-Based Financial Education 

      Chong, Juan Carlos; Frisancho, Verónica; García, Antonella; Ventura, Édgar (2025-10-30)
      This study experimentally examines the long-term effects of school-based financial education, analyzing data from nearly 60,000 individuals in Peru, seven years post-intervention. Treated students increased their total ...
    • Opportunistic behavior and discrimination in the Mexican Solar PV market: An audit experiment 

      Sandoval, Héctor; Hancevic, Pedro; Bejarano, Hernán (CAF- banco de desarrollo de América Latina y el Caribe; Distrito Capital, 2023-12-14)
      We conducted an audit experiment in which fictional households requested quotes for the purchase, installation, and interconnection of solar photovoltaic systems in four cities across Mexico. This allowed us to identify ...
    • Optimal age-dependent taxation in emerging markets: A quantitative assessment 

      Uribe-Terán, Carlos; Gachet, Iván; Grijalva, Diego F. (CAF; Caracas, 2019-12-29)
      This paper studies the design and welfare implications of an optimal age-dependent taxation scheme for an emerging economy. The setting is an overlapping generations economy with uninsured productivity risk, partially ...
    • Savings Groups Reduce Vulberability but have Mixed Effect on Financial Inclusion 

      Frisancho, Veronica; Valdivia, Martin (CAF; Caracas, 2021-01-08)
      This paper evaluates the impact of the introduction of savings groups on poverty, vulnerability, and financial inclusion outcomes in rural Peru. Using a cluster randomized control trial and relying on both survey and ...
    • The Asymmetric Impact of Trade Shocks on Rural and Urban Areas: Evidence from Chile 

      Albina, Iván; César, Andrés; Ciaschi, Matías; Falcone, Guillermo; Gasparini, Leonardo (2025-09-09)
      This paper examines the causal effects of trade shocks on local labor markets (LLMs), with a focus on the rural–urban divide. In particular, it analyzes the impact of China’s integration into global trade on Chilean LLMs ...