This paper shows the relationships between the mechanisms of decision in politics (harmony versus conflict) and the mechanisms of allocation in economics (hierarchy versus market) by means of ideal types. Under this approach one concludes that the market mechanism in economics and the conflict...

Recently a new approach to political economy has been consolidated. The political analysis of transaction costs is an attempt to solve some of the problems which arise in economic theories of public policy. This paper deals with the notions of transaction costs, institutional efficiency,...

In this paper we analyze the synchronization between the business cycles of US and Mexican regions. Regional economic activity in Mexico is measured using regional coincident indexes recently developed at Banco de México, while US aggregate economic activity is measured with the national...

This paper provides a description of some of the empirical regularities for the Mexican business cycle. The purpose is to have a benchmark for assessing dynamic stochastic general equilibrium models for the Mexican case. We follow the Kydland and Prescott methodology to describe the cyclical...