RAKIDUAM - Knowledge

47 The recent wave of regulatory rulings has shown the need to improve our understanding of solutions to market imperfections. These cases reveal the various areas in which the current regulation of the system does not fulfill its objectives. In this aspect, Chile is not special, since similar cases have been seen in various places in the world (the Lysina cartel, the Enron case and the case of the regulatory rulings that contributed to the 2008 financial crisis). In addition, in many of these cases, even when the optimal regulation is known, political economy restrictions, such as lobbying and corruption, make its legislation and execution more difficult. Without a suitable understanding of these restrictions, any study of the answer by public policy to the failures of the market will be incomplete. The Institute for Research in Market Imperfections and Public Policy (MIPP) is an academic center that develops and disseminates knowledge in Economy, Political Science and Management. The MiPP researchers conduct cutting-edge research to address the most challenging and important issues in Economics. The extensive international network of collaborators and visitors of the Institute make the MiPP a vibrant and stimulating intellectual place. The Institute develops methodological tools that enable information to be generated for decision-making by companies and public and private entities. The MiPP continuously collaborates with its public and private partners on issues such as anti- monopoly and financial regulation. Principal Institution: Universidad de Chile. Associated Institutions: Pontificia Universidad Católica de Chile and Universidad Diego Portales. Lines of Research Industrial Organization. Macroeconomics. Finance. Political Economy. Institute for Research in Market Imperfections and Public Policy (MIPP)