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010   $a1-4755-5375-7
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035   $a(CKB)3710000000973033
035   $a(MiAaPQ)EBC4867574
035   $a(Au-PeEL)EBL4867574
035   $a(CaPaEBR)ebr11391098
035   $a(CaONFJC)MIL974474
035   $a(OCoLC)965708504
035   $a(IMF)WPIEA2016218
035   $a(EXLCZ)993710000000973033
100   $a20020129d2016      uf         0
101 0 $aeng
135   $aurcnu||||||||
181   $2rdacontent
182   $2rdamedia
183   $2rdacarrier
200 10$aTo Bet or Not to Bet : $eCopper Price Uncertainty and Investment in Chile /$fFabio Comelli, Esther Perez Ruiz
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2016.
215   $a1 online resource (23 pages) $cillustrations (some color), tables
225 1 $aIMF Working Papers
311   $a1-4755-5359-5 
320   $aIncludes bibliographical references.
330 3 $aA strand of research documents Chile?s copper dependence hence significant exposure to terms of trade shocks. Copper prices? sharp decline and forecast uncertainty since the end of the commodity super-cycle has rekindled the debate on Chile?s adjustment capacity to external shocks. Following Malz (2014), this paper builds a time-varying measure of copper price uncertainty using options contracts. VAR analysis shows that the investment response to an uncertainty shock of average magnitude in the sample is strong and persistent: the cumulative fall in investment from trend at a one-year horizon ranges 2?5.8 percentage points; and it takes between 1½ and 2 years for investment to return to its trend level. Empirical ranges depend on alternative definitions for investment, uncertainty, and options? maturing time.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2016/218
606   $aCopper$xPrices$zChile
606   $aInvestments: Metals$2imf
606   $aForeign Exchange$2imf
606   $aInvestments: Options$2imf
606   $aMacroeconomics$2imf
606   $aIntertemporal Firm Choice and Growth, Investment, or Financing$2imf
606   $aInvestment$2imf
606   $aCapital$2imf
606   $aIntangible Capital$2imf
606   $aCapacity$2imf
606   $a'Panel Data Models$2imf
606   $aSpatio-temporal Models'$2imf
606   $aMetals and Metal Products$2imf
606   $aCement$2imf
606   $aGlass$2imf
606   $aCeramics$2imf
606   $aPrice Level$2imf
606   $aInflation$2imf
606   $aDeflation$2imf
606   $aPension Funds$2imf
606   $aNon-bank Financial Institutions$2imf
606   $aFinancial Instruments$2imf
606   $aInstitutional Investors$2imf
606   $aCurrency$2imf
606   $aForeign exchange$2imf
606   $aFinance$2imf
606   $aInvestment & securities$2imf
606   $aMetal prices$2imf
606   $aAsset prices$2imf
606   $aExchange rates$2imf
606   $aOptions$2imf
606   $aCopper$2imf
606   $aPrices$2imf
606   $aFinancial institutions$2imf
606   $aCommodities$2imf
606   $aMetals$2imf
606   $aDerivative securities$2imf
607   $aChile$2imf
615  0$aCopper$xPrices
615  7$aInvestments: Metals
615  7$aForeign Exchange
615  7$aInvestments: Options
615  7$aMacroeconomics
615  7$aIntertemporal Firm Choice and Growth, Investment, or Financing
615  7$aInvestment
615  7$aCapital
615  7$aIntangible Capital
615  7$aCapacity
615  7$a'Panel Data Models
615  7$aSpatio-temporal Models'
615  7$aMetals and Metal Products
615  7$aCement
615  7$aGlass
615  7$aCeramics
615  7$aPrice Level
615  7$aInflation
615  7$aDeflation
615  7$aPension Funds
615  7$aNon-bank Financial Institutions
615  7$aFinancial Instruments
615  7$aInstitutional Investors
615  7$aCurrency
615  7$aForeign exchange
615  7$aFinance
615  7$aInvestment & securities
615  7$aMetal prices
615  7$aAsset prices
615  7$aExchange rates
615  7$aOptions
615  7$aCopper
615  7$aPrices
615  7$aFinancial institutions
615  7$aCommodities
615  7$aMetals
615  7$aDerivative securities
676   $a338.23
700   $aComelli$b Fabio$01082917
701   $aPerez Ruiz$b Esther$01449460
801  0$bDcWaIMF
906   $aBOOK
912   $a9910155013203321
996   $aTo Bet or Not to Bet$93647759
997   $aUNINA