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,...

This document analyzes inflation, exchange rate, interest rate, and GDP growth forecasts from the monthly Survey of Specialists in Economics from the Private Sector, maintained by Banco de M'exico. The study concentrates on the mean across forecasters for the period from January 1995 to April...

This document analyzes inflation, exchange rate, interest rate, and GDP growth forecasts from the monthly Survey of Specialists in Economics from the Private Sector, maintained by Banco de México. The study concentrates on the mean across forecasters for the period from January 1995 to April...