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Ciclo seminarios CEA-MIPP

13:30 horas, Sala Consejo, Ingeniería Industrial, Torre Oriente (Beauchef 851, 4to piso, Santiago)

El Centro de Economía Aplicada (CEA) y el Instituto Milenio para la Investigación en Imperfecciones de Mercado y Políticas Públicas (MIPP) de la Universidad de Chile invitan a su ciclo de seminarios programados para el segundo semestre del año.

Invitado: Gustavo Ventura, Arizona State University

Título de la conferencia: “Making a Miracle: Ireland 1980-2005″

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Abstract
We examine the proximate causes of the remarkable rise of Ireland from being one of Western Europe’s poorest countries to one of its richest in few years. We assess the quantitative significance of various contributing factors that might account for this swift and spectacular rise. Specifically, we examine the importance of corporate tax reform and changes in the size of government, in conjunction with other factors, which we model as an exogenous rise in Total Factor Productivity (TFP). We conduct our analysis using a two-sector, small-open economy model where production requires tangible and intangible capital services, and where inflows of capital are limited by a collateral constraint. We find that the much discussed reductions of corporate income taxes played a significant, but secondary, role in the Irish miracle. However, tax reform, spending changes and TFP strongly reinforce each other. We also find that Ireland’s openness to capital movements was crucial: under the same driving forces, a closed economy would have experienced a much slower and significantly smaller rise in GDP.

Más información

Confirmaciones: Olga Barrera / obarrera@dii.uchile.cl