During the last decade the Mexican economy experimented relative stability but also slow growth. Investment efforts remained moderate, failing to move the economic activity. The external sector continues to have the greatest ...

This paper presents a preliminary evaluation of the distribution at the household level of benefits from the Sistema de Protección Social en Salud (SPSS), or Seguro Popular, in its initial phase of operations. This health ...

We analyse a (differentiated good) industry where an incumbent firm owns a network good (essential input) and faces potential competition in the (downstream) retail market. Unlike the traditional approach, we consider ...

En el presente artículo se desarrolla un marco conceptual para el estudio de la interacción entre el desarrollo financiero y los distintos tipos de capital social. Nuestra hipótesis de partida es que las transacciones ...

This paper builds a banking environment where both fundamental runs (that stress macroeconomic variables, such as negative technology shocks, as the cause of bank runs) and sunspot runs (where self-fulfilling expectations ...

In this paper we model the rate of growth of per capita output as a Markov-switching process. We consider panel data sets of 48 USA states, 13 OECD countries, and a wider sample of 57 countries, all with observations for ...

This paper examines empirically the interest rate-exchange rate link in the context of the Mexican experience with a floating Exchange regime. The impulse response function derived from an ECM estimated by GMM reveals a ...

In this paper we study how the severity of the moral hazard problem a firm faces is related to its size. We set up a dynamic agency model with capital accumulation, and show the existence of a solution to this model. To ...

This paper looks at various models that address strategic behavior in the supply of gas. The paper has three very strong technical results. First, the netback pricing rule leads to discontinuities in Pemex's revenue function. ...

The paper deals with the innovation system and technology flows in Mexican industry. The first part begins with a conceptual introduction to the NIS as the relation between institutions, competences and performance in the ...