Estudios de Economía https://estudiosdeeconomia.uchile.cl/index.php/EDE <p>Estudios de Economía is published, since 1973, two times a year by the Department of Economics at the University of Chile. Its purpose is to publish empirical as well as theoretical papers in every field of Economics. All papers must go through refereeing process by two anonymous referees. As part of our editorial policy, an answer regarding the status of a paper will not exceed two months from its reception. If that were not the case, the authors are free to send their paper for consideration for publication elsewhere.</p> Departamento de Economía - Facultad de Economía y Negocios, Universidad de Chile. en-US Estudios de Economía 0304-2758 Economic cycles and self-employment: Synthetic Cohort Analysis for Greater Santiago https://estudiosdeeconomia.uchile.cl/index.php/EDE/article/view/67359 Economic cycles affect both unemployment and the composition of employment, which can have an impact on the well-being of individuals if these changes in composition are involuntary or involve a decrease in the quality of employment. In this article, we study the relationship between economic cycles and self-employment, distinguishing between employers and own-account workers, through a synthetic cohort methodology using data for Chile. The results suggest that the proportion of employers is procyclical and that of own-account workers is countercyclical. This suggests that own-account employment is a refuge in times of crisis from the shortage of wage-based employment. This highlights the importance of designing public policies that would improve the conditions of self-employed workers. Rodrigo Montero Joaquín Pérez Copyright (c) 2022 Estudios de Economía 2022-06-03 2022-06-03 49 1 5 30 Transitional dynamics and the evolution of information transparency: a global analysis https://estudiosdeeconomia.uchile.cl/index.php/EDE/article/view/67360 The last quarter of the 20th century was a period of sustained economic growth across many countries. Countries’ institutional arrangements have been commonly employed as factors in the convergence studies of economic growth and income levels. However, the issue of whether institutions themselves converge has been under-researched. Using the nonparametric distribution dynamics approach and a sample of 194 countries during the 1980-2010 period, we examine a tendency for countries’ informational transparency (IT) to converge over time. We find that whilst there is some evidence of unconditional convergence across countries, there is stronger evidence for convergence clubs to emerge, at both regional and income levels. Notably, the level of IT of the low- and lower-middle-income countries and those situated in Africa, and Middle East regions tend to converge towards a level significantly below the global average. We also find a strong relationship between income and IT. Andrew David Williams Tsun Se Cheong Michal Wojewodzki Copyright (c) 2022 Estudios de Economía 2022-06-03 2022-06-03 49 1 31 62 Determinants of business cycle synchronization in North America https://estudiosdeeconomia.uchile.cl/index.php/EDE/article/view/67362 This article analyzes the role of trade and financial integration, productive specialization and monetary policies in the synchronization of business cycles in North America from a long-run perspective. For this purpose, we estimate seemingly unrelated regression (SUR) models and Granger causality tests with annual panel data for Canada, the United States and Mexico during the period 1980-2019. The main findings suggest that: 1) trade integration has a positive effect and productive specialization a negative one on business cycle synchronization of the economies; 2) intra-industrial trade predominates in the region; 3) trade and financial integration processes are complementary; 4) financial integration promotes productive specialization; and, 5) progresses in trade and financial integration within the region are heterogeneous. Javier Emmanuel Anguiano Pita Antonio Ruiz Porras Copyright (c) 2022 Estudios de Economía 2022-06-03 2022-06-03 49 1 63 89 Effects of Venezuelan migration on wages in Colombia https://estudiosdeeconomia.uchile.cl/index.php/EDE/article/view/67364 This study analyzes the effects of Venezuelan migration, including Colombian returnees, on wages in Colombia based on information from the Great Integrated Sample Survey for the period 2013-2019. Both migrants and natives were classified by educational level and labor experience. Since migrants can displace native workers, we estimate the magnitude of the displacement effect by groups based on fixed effects regression models. The results suggest a low but statistically significant effect, though not significant from the technical point of view. However, the estimated elasticities of substitution show perfect substitution in some groups. Regarding the effects on wages, the results indicate a mainly negative impact ranging between -6,01% and 0,03%, depending on the group of workers and the period, being higher among those with perfect elasticity of substitution. Alix Juliana Obando Arias Josefa Ramoni-Perazzi Isaac Guerrero Rincón Copyright (c) 2022 Estudios de Economía 2022-06-03 2022-06-03 49 1 91 113