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Functional systemic risk, complementarities and early warnings

Cañón, Carlos Iván; Gallón, Santiago; Olivar, Santiago - 2016

This paper proposes a systemic risk index based on Functional Data Analysis (FDA), overcoming salient shortcomings of standard methodologies related to data usage, data sparseness, and high dimensionality issues. Using Mexican data, a set of systemic risk indexes are constructed and we show that...

Persistent link: https://www.econbiz.de/10011788936

Estimación de un índice de condiciones financieras para México

Villarreal, Thelma Armendáriz; Bulos, Claudia Ramírez - 2015

A tool that has been widely used to identify the state of financial conditions in a country are the financial conditions indexes, since they synthesize information from different variables in a single indicator allowing to identify the general behavior of financial conditions in a timely and...

Persistent link: https://www.econbiz.de/10011445077

Pronósticos de la estructura temporal de las tasas de interés en México utilizando und modelo afín

Elizondo, Rocio - 2013

The purpose of this paper is to show that an affine model which incorporates the condition of no arbitrage enables improvements in forecasting the term structure of interest rates in Mexico. The three factors of the yield curve (level, slope and curvature) used in the model are estimated by the...

Persistent link: https://www.econbiz.de/10010322556

An empirical analysis of the Mexican term structure of interest rates

Cortés Espada, Josué Fernando; Ramos-Francia, Manuel; … - 2008

We study the dynamics of the term-structure of interest rates in Mexico. Specifically, we investigate time variation in bond risk premia and the common factors that have influenced the behavior of the yield curve. We find that term-premia in government bonds appear to be time-varying. We then...

Persistent link: https://www.econbiz.de/10010322581

Forecasting Inflation in Mexico using factor models: Do disaggregated CPI data improve forecast accuracy?

Ibarra-Ramírez, Raúl - 2010

In this paper we apply a dynamic factor model to generate out of sample forecasts for the inflation rate in Mexico. We evaluate the role of using a wide range of macroeconomic variables with particular interest on the importance of using CPI disaggregated data to forecast inflation. Our data set...

Persistent link: https://www.econbiz.de/10010322633

Comparación de pronósticos de la estructura temporal de tasas de interés de México para distintas especificaciones del modelo afín

Lelo-de-Larrea, Alejandra - 2020

Four specifications of an affine model with risk aversion and no arbitrage conditions are estimated for the Mexican Term Structure of Interest Rates, contrasting their empirical properties and the accuracy of their in and out of sample forecasts. The traditional models are extended by adding...

Persistent link: https://www.econbiz.de/10012616394

The influence of global inflation on emerging market economies' inflation

Arango-Castillo, Lenin; Orraca, María José; Molina … - 2022

We calculate global inflation as the first principal component of inflation in a sample of emerging market and advanced economies and find that it may account for an important fraction of headline and core inflation variance across countries. We then show that global inflation is correlated with...

Persistent link: https://www.econbiz.de/10014319980

The role of clusters in the performance of the Mexican economy

Juarez-Torres, Miriam; Puigvert-Angulo, Jonathan; … - 2022

regions. It identifies 24 clusters and analyzes their geographical distribution, their role in regional growth, the evolution …-oriented clusters have a strong presence in the Northern states of the country, while services-oriented clusters in the Central ones …. Finally, clusters such as plastic products manufacturing; retail and eating services; food and beverage manufacturing; and …

Persistent link: https://www.econbiz.de/10014319971

Capitalism and Inequality Re-Examined

Wisman, Jon D. - 2014

Ever since capitalism came to be recognized as a new economic system, it has had vociferous critics, of whom none was more wide-ranging than Karl Marx. Marx recognized that behind its ideological patina of freedom, capitalism, like the exploitative systems of slavery and feudalism, was a social...

Persistent link: https://www.econbiz.de/10011098402

Why Marx Still Matters

Wisman, Jon D. - 2013

This article explores why a deep understanding of Marx's project is essential for developing an adequate science of society. The imperative to re-examine Marx's project has been made evident not only by the incapacity of the fragmented contemporary social sciences to grasp the causes and...

Persistent link: https://www.econbiz.de/10010676274

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