Hernández, Felipe de Jesús Fonseca; Campo, Juan … - In: Economía Mexicana NUEVA ÉPOCA XXII (2013) 1, pp. 151-175
We propose an instrument to smooth the cyclical fluctuations of federal transfers (participaciones) with a rainy day fund mechanism through a stabilization fund. The rule works by means of saving federal transfers (participaciones) during good times in order to smooth the impact of cyclical...