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Debt as Safe Asset
Brunnermeier, Markus K.; Merkel, Sebastian; Sannikov, Yuliy - 2022
The price of a safe asset reflects not only the expected discounted future cash flows but also future service flows, since retrading allows partial insurance of idiosyncratic risk in an incomplete markets setting. This lowers the issuers’ interest burden and allows the government to run a...
Persistent link: https://www.econbiz.de/10013308246
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Maquiladoras and informality: A mixed blessing
Heid, Benedikt; Larch, Mario; Riaño, Alejandro - 2011
Mexico experienced a tremendous expansion of its export-processing maquila sector during the 1990s. At the same time, a … market outcomes in Mexico. We develop a heterogeneous firm model with imperfect labor markets that captures salient features …
Persistent link: https://www.econbiz.de/10010280836
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Spotlight on Spatial Environmental Policy Spillovers : An Econometric Analysis of Wastewater Treatment in Mexican Municipalities
Hecker, Lutz Philip - 2018
Mexico. However, wastewater treatment levels also differ greatly among the 2,456 Mexican municipalities. We apply spatial …
Persistent link: https://www.econbiz.de/10012908670
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Firms and Labor in Times of Violence : Evidence from the Mexican Drug War
Utar, Hale - 2019
Violence in Mexico has reached unprecedented levels in recent times. After the government began a crackdown on drug … studies the impact of violent conflict on firms, exploiting this period of heightened violence in Mexico commonly referred to … significant distortive effects of the Mexican Drug War on domestic industrial development in Mexico and suggest that the Drug War …
Persistent link: https://www.econbiz.de/10012892241
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The Impact of NAFTA on Prices and Competition : Evidence from Mexican Manufacturing Plants
Kikkawa, Ayumu Ken - 2019
This paper assesses the impact of the North American Free Trade Agreement on Mexican manufacturing plants’ prices and markups. We distinguish between Mexican goods that are exported and those sold domestically, and decompose their prices separately into markups and marginal costs. We then...
Persistent link: https://www.econbiz.de/10012867011
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An Analysis of the Impact of Public Infrastructure on Productivity Performance of Mexican Industry
Mamatzakis, Emmanuel C. - 2021
It has been frequently quoted in the literature that one decisive cause of the productive performance of an economy might be infrastructure investment. This paper provides a dual profit theoretical framework of measuring the effects of infrastructure on economic performance in terms of gains in...
Persistent link: https://www.econbiz.de/10013316826
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NAFTA and Drug-Related Violence in Mexico
Hidalgo, Eduardo; Hornung, Erik; Selaya, Pablo - 2022
We study how NAFTA changed the geography of violence in Mexico. We propose that this open border policy increased …
Persistent link: https://www.econbiz.de/10014244024
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Cross-Country Evidence on Teacher Performance Pay
Woessmann, Ludger - 2010
The general-equilibrium effects of performance-related teacher pay include long-term incentive and teacher-sorting mechanisms that usually elude experimental studies but are captured in cross-country comparisons. Combining country-level performance-pay measures with rich PISA-2003 international...
Persistent link: https://www.econbiz.de/10013139418
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Politics-Business Co-evolution Paths : Workers’ Organization and Capitalist Concentration
Belloc, Marianna - 2012
Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...
Persistent link: https://www.econbiz.de/10013116042
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Policy Implications of Models of the Spread of Coronavirus : Perspectives and Opportunities for Economists
Avery, Christopher - 2020
influential in recent policy discussions. It notes potentially important features of the real- world environment that the standard …
Persistent link: https://www.econbiz.de/10012833728