Remarks for the Jose Cuervo Tequila Talk, Institute of the Americas, La Jolla, California, April 5, 2006 ; "For Mexico … are key aspects of Mexico's comparative advantage vis-a-vis nations in Asia and Eastern Europe. A loss of competitiveness … in Mexico is a loss for the entire border economy, where so much of our growth is linked to expansion on the more …

Total factor productivity (TFP) falls markedly during financial crises, as we document with recent evidence from Mexico … neoclassical model. We show in the case of Mexico’s 1994-95 crisis that the model predicts that inputs and output should have …