In this document we analyze the dynamics of per capita value added in manufacturing as a proxy of per capita income in Mexico’s municipalities and US counties. Specifically we seek to determine if there is convergence (absolute or conditional), divergence or stratification. A dynamic panel...

En este artículo se analiza la dinámica del valor agregado manufacturero per capita como proxy del ingreso per capita de los municipios de México y condados de los Estados Unidos. Específicamente, se busca determinar si existe convergencia (absoluta o condicional), divergencia o...

This paper investigates empirically the relationship between inflation, inflation volatility and output growth in the case of México using monthly data over the period 1993-2011. Specifically a bivariate GARCH-M model is estimated to test the hypotheses that inflation rates are directly related...

In this paper we investigate the effects of volatility of the fundamental determinants of trade on trade flows in Mexico during the period 1991-2008. Our import and export functions are based on the well known imperfect substitute goods model of trade. We focus on the effects on imports and...

In this paper we investigate whether the communication bias of the Bank of Mexico provides information that helps to anticipate the course of monetary policy in subsequent periods. We first construct an objective index of the communication bias, based upon an statistical analysis of key terms...

In this paper we investigate empirically the determinants of credit default rates in the Peruvian system of Municipal Banks of Savings and Credit, using a dynamic fixed effects model with monthly data, over the period 2003-2010. We postulate that credit default rates are positively related to...

In this paper we investigate empirically the relationship among conditional mean and variances of exchange rate depreciation, inflation and output growth in Mexico using a multivariate GARCH-in-mean model (MGARCH-M). The study is performed with monthly data over the period 1993-2009. The results...

This paper investigates empirically the relationship between inflation, inflation volatility and output growth in the case of México using monthly data over the period 1993-2011. Specifically a bivariate GARCH-M model is estimated to test the hypotheses that inflation rates are directly related...

This paper evaluates convergence of per capita GDP among the Mexican states. The paper attempts to make two important contributions to the literature on convergence in México. First, it is used a yearly data base for a relatively large time span which allows the use of a time series approach...