Although there exist the conditions and reasons to let Pemex become a trully state owned, commercialy oriented, oil company, in reality Pemex does not behave as such, due to the limitations posed by its legal framework. Such legal framework poses severe limitations to Pemex’s capacity in...

Although there exist the conditions and reasons to let Pemex become a trully state owned, commercialy oriented, oil company, in reality Pemex does not behave as such, due to the limitations posed by its legal framework. Such legal framework poses severe limitations to Pemex’s capacity in...

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 corruption and opportunistic behavior. We show that the distribution of...

A semi-empirical likelihood estimator is proposed for models where agents interact under asymmetric information. The methodology focuses on situations where some variables that were privately observed when choices were made become available to the econometrician afterwards. This variables are...

This paper investigates empirically the relationship between inflation, inflation volatility and output growth in the case of México using monthly data over the period 1993-2011. Specifically a bivariate GARCH-M model is estimated to test the hypotheses that inflation rates are directly related...

We consider a class of two-player quadratic games under incomplete information to study the relation between exogenous coordination motives and strategic interactions in information acquisition. The players make decisions in two stages. They decide about information acquisition in the first...

This paper investigates empirically the relationship between inflation, inflation volatility and output growth in the case of México using monthly data over the period 1993-2011. Specifically a bivariate GARCH-M model is estimated to test the hypotheses that inflation rates are directly related...

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 services/goods that each level have to provide, and hence they are not able...

This paper develops a model of evolution of beliefs through communication in an exogenous social network. We assume that the agents are Bayesian updaters and that the network enables them to listen to the opinion of others about some uncertain parameter of interest. We explore the effects of the...

This paper studies the evolution of beliefs of a group of Bayesian updaters who are connected through a social network that enables them to listen to the opinions of others. Each agent observes a sequence of private signals about the value of an unknown parameter. In addition, the agent receives...