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The dynamics of bargaining power in a principal-agent model
(Centro de Investigación y Docencia Económicas, División de Economía, 2023)
We propose a dynamic principal-agent model where the agent’s initial bargaining power is the state variable and a law of motion that governs their bargaining power’s behavior. Our numerical results indicate that agents ...
La pandemia de COVID-19 y la vida financiera de los mexicanos. Nota de investigación sobre la evidencia de la ENIF 2021
(Centro de Investigación y Docencia Económicas, División de Economía, 2023)
Los datos de la Encuesta Nacional de Inclusión Financiera 2021 muestran que durante la pandemia de COVID-19, una proporción importante de las personas en México fueron afectadas en sus fuentes de ingreso y su vida financiera, ...
State dependence of fiscal multipliers in Chile – an independent component approach to identification
(Centro de Investigación y Docencia Económicas, 2023-01-25)
In studying the economic cycle dependency of fiscal multipliers in Chile, we implement an independent component analysis for structural shock identification within a non-linear vector autoregressive setting with generalized ...
Latin American falls and rebounds since the COVID-19
(Centro de Investigación y Docencia Económicas, 2023-10-04)
This paper proposes comprehensive measures of the Latin American business cycle that help to infer the expected deepness of recessions, and strength of expansions, as they unfold in real time. These measures are based on ...
Long-term effects of initial labor market conditions on young Mexicans
(Centro de Investigación y Docencia Económicas, 2023-09-06)
In this paper, we analyze the long-term effects of initial labor market conditions on young Mexicans. We construct a synthetic panel from the National Survey of Occupation and Employment. The sample is grouped according ...
Financial development and income inequality in Latin American countries: an instrumental variables estimation
(Centro de Investigación y Docencia Económicas, 2023-10-29)
Latin America has made significant progress in financial development and poverty reduction in recent decades. Nevertheless, its persistent levels of inequality have further potential to be reduced, and financial development ...
The role of innovation in employment growth, skills demand, and wages: evidence from Ecuador
(Centro de Investigación y Docencia Económicas, 2023-01-30)
This study’s main objective is assessing the effects of innovation on firms’ employment growth. Further, we aimed to examine the quality of jobs in terms of skills and wages. By applying a structural modeling approach, ...
Intrahousehold bargaining power and time allocation for multiple activities
(Centro de Investigación y Docencia Económicas, 2023-10-04)
During the last decades, important policies have been implemented to incorporate women into the labor market, reduce persistent gender inequalities, and balance the time allocation between paid and unpaid work. We assess ...
Privatization in the natural gas sector: a general equilibrium analysis
(Centro de Investigación y Docencia Económicas, 2023-08-29)
A broad literature highlights efficiency gains due to cost reduction after privatizations in the energy sector. However, to the best of our knowledge, this literature does not develop general equilibrium models, which are ...
Fiscal decentralization and the allocation of public spending of subnational governments: the case of Ecuador
(Centro de Investigación y Docencia Económicas, 2023-11-08)
This article analyzes the relationship between fiscal decentralization and the growth rate of per capita public spending by subnational governments in Ecuador. An empirical strategy supported in a theoretical model is ...