In this paper we study the determinants of both the decision to be rated and the ratings for sub-national governments in a prominent LDC, Mexico. One of the main findings is that entity size does matter; as a matter of ...

This paper introduces an alternative methodology to test whether financial derivatives introduction affects underlying stock return variace. Previous tests did not address the problema that variance changes systematically ...

In this paper we consider two empirical questions. First, is there a real Exchange rate (RER) uncertainty effect on economic growth independent of its potential effects on trade? Second, is there a relationship betwecn the ...

Based on growing theoretical literature, we present evidence from Mexico regarding the weak effectiveness of federal transfers and low absorption capacity of states and municipalities in poor countries in the presence of ...

Este trabajo presenta una propuesta de creación de un fondo de contingencia para enfrentar choques macroeconómicos (exógenos) para las entidades federativas del país. Para ello, se identifican las fuentes de riesgo financieros ...

Esta nota revisa la evolución de la banca en México a partir de 1994. No examina el resto del sistema financiero, debido a que su comportamiento ha sido influenciado fundamentalmente por la banca comercial. De esta manera, ...

We model a situation in which the voters are or not fooled by the local or/and the federal government, and their capability of accounting the behavior of the governments, when they are not fully informed about which are ...

Este estudio realiza un análisis sobre la competencia bancaria en México, desde la perspectiva de la teoría de mercados impugnables. En particular, se argumenta que la competencia entre bancos debe analizarse desde un ...

This paper uses the methodology of Parry and Small (2005) to estimate the optimal gasoline tax for a less-developed, oil-producing country. The relevance of the estimation relies on the differences between less-developed ...

Esta nota examina la evolución de la Banca después de 1994. Se argumenta la ausencia de una descripción con esas características para ese periodo. Anteriormente a esta fecha dicha evolución se encuentra documentada en Ortiz ...