This study combines survey data with annual state data on pupil-teacher ratios covering broadly the period 1940-90 to investigate the role of race, family background and education (both the quantity and quality) in explaining earnings inequality between whites and the African descendent...

This study combines survey data with annual state data on pupil-teacher ratios covering broadly the period 1940-90 to investigate the role of race, family background and education (both the quantity and quality) in explaining earnings inequality between whites and the African descendent...

This paper presents evidence on the relationship between economic shocks to relative male wages and changes in household consumption in Mexico during the 1990s, which is a period characterized by high volatility. In addition to performing this type of analysis for Mexico for the first time, the...

It has become common wisdom amongst monetary policy professionals that central banks in Latin America should adopt inflation targeting. Pure inflation targeting implicitly assumes a social loss welfare function dependent on only inflation. In this working paper, using subjective well-being...

Following the 1994 financial crisis, the rate of saving of the Mexican economy fell from 21.7 percent to 19.8 percent of GDP. The decline was associated with a reduction in the rate of external saving from 6.9 to 0.5 percent between 1994 and 1995. The overall reduction was not more dramatic...