This paper examines the macroeconomic implications of symmetric and asymmetric oil price and oil revenue shocks in Nigeria, using the Vector Autoregressive (VAR) estimation technique. The paper finds that both positive and negative oil price shocks influence real government expenditure only in...

This paper evaluates the gains in longevity based on individuals’ willingness to pay, and measures the social values of these gains. We apply the Murphy and Topel (2003, 2006) model for Mexico for the first time, which allows us to estimate the value of a life year and the value of remaining...

This paper aims to verify if there is any effect in the income distribution for the Mexican economy when applying a tax on fossil fuels in order to reduce CO2 emissions. In order to reach this goal a computable general equilibrium model was built following the Shoven & Whalley method. It is...

This paper applies fuzzy clustering techniques to developed and emerging economies in East Asia, in order to arrive at an identification of potential subgroups of economies for monetary union. The statistical criteria employed is the one suggested by the Optimal Currency Areas theory, and the...

This paper is aimed at analyzing the main problems concerning fat-tailed asset return distributions. In doing so, a sample of Colombian stock returns over a period of time ranging from 2001 to 2010 is considered. The main conclusion drawn from this case study is that any model facing...

The Free Trade Agreement between the European Union and Mexico (EUMFTA) was enforced in 2000, becoming one of the most important transatlantic trade agreements. The goal of this research is to analyze the results of this agreement a decade after the signature. A gravity model is estimated for a...

This paper proposes the design of an Early Warning System (EWS) to evaluate the possibility of public debt crisis in Mexico. For the EWS construction we use the signal detection theory based on non-parametric statistics and exploratory data analysis. We generated a mainly classified index, which...

In this article we use a multivariate framework to estimate net profits and levels of capital and labor for informal Mexican microfirms had they been formal. We estimate a Roy model to simultaneously model three different microfirm responses conditional on the sector (formal or informal) choice....

The newly created economies in the former Yugoslav space advance on the transition road with more or less success. Each of the former Yugoslav republics has implemented its own transition policy, encountering different economic, political and social opportunities, as well as constraints. From...

Some countries, including Mexico, are drug producers and exporters, although their domestic consumption is relatively low. They count with very few tools and resources to reduce drug demand (this, due to an exogenous variable), but they face a high social cost which is mainly caused by the...