In this study we analyze the empirical regularities of the desinflationary processes implemented in different countries during the period 1970-1998. In order to revert inflationary tendencies the monetary authority must implement restrictive monetary policies, which raise the real rate and...

This paper studies the widening of wage differentials between skilled and unskilled workers after the major trade liberalization effort that took place in Mexico between 1986 and 1990. In contrast with the implications of the Stolper-Samuelson theorem, that the abundant factor should gain from...

Introducción. La mayoría de los trabajos técnicos relativos al fénomeno de la indización se limitan analizar las consecuencias de indizar algún sector de la economía como por ejemplo el mercado laboral y los mercados financieros. En el caso de la indización salarial Fischer(1977) y...

An important question in macroeconomics has been how the transmission mechanism of monetary policy works. In particular, the question of whether there exists a credit channel for the transmission of monetary policy has been one of the central themes in the discussion of the effectiveness of...

During a large part of its recent history, the Mexican economy has experienced a moderate level of inflation. In this note some arguments are given against maintaining inflation in this range for long periods, not only in the sense that long run costs are large and inevitable, but because the...