 The core of those reforms has been continued by a succession of democratically elected governments in Chile since the end of the Pinochet government in 1990.Harberger's Ph.D. thesis, written under Lloyd Metzler as committee chair and Kenneth Arrow and Franco Modigliani as advisers, was on international macroeconomic theory, but his academic reputation is primarily based on his work on the economics of taxation, welfare economics, and benefit-cost analysis.Harberger's first contribution to applied welfare economics estimated that the efficiency loss from monopoly--or, more precisely, from prices exceeding marginal cost--in US manufacturing was unlikely to exceed 0.1% of GDP.