La crisis financiera internacional se ha reflejado en un aumento de los tipos de interes del nuevo credito a las empresas, en particular en los paises perifericos y en el caso de las pymes. En este documento se analiza la formacion de los precios del credito en dos paises de la periferia,...

In this paper we assess empirically whether financial inclusion contributes to reducing income inequality when controlling for other key factors, such as economic development and fiscal policy. We conclude that financial inclusion contributes to reducing income inequality to a significant...

New ways of understanding banking, technological improvements, and regulation yield new means of interaction between customers and banks through outsourcing agreements. This paper provides the first harmonised database with information on the number of banking correspondents by country, which...

En este documento se analiza empiricamente si, como resultado de contar con acceso a redes sociales, los migrantes mexicanos en los Estados Unidos incrementan sus ingresos. Se emplean cifras de la Encuesta Nacional a Hogares Rurales de Mexico (ENHRUM). Se encuentra que quienes tienen acceso a...

El presente estudio es un ejercicio teorico para Colombia que tiene como objetivo simular diferentes escenarios bajo un esquema hipotetico de multifondos, como funcionan actualmente en Chile, Mexico y Peru. Para esto se modeliza el comportamiento futuro de los precios de los activos que se...

This study is a theoretical exercise for Colombia that aims to simulate a variety of scenarios under a hypothetical scheme similar to the multi-funds currently in operation in Chile, Mexico and Peru. This has been done by modeling the future movement of asset prices that are considered to be...

This paper investigates the effect of trade liberalization on the exchange rate pass-through (ERPT) to import prices. To do so, it employs an empirical estimation of the effects of NAFTA on the Mexican ERPT, and uses a Ricardian general equilibrium model. The model identifies the direct...

This work describes the development of the multi-fund scheme in Chile, as well as its key features and results. It includes simulation exercises designed to model the returns and volatilities of the different types of Chilean pension funds over a 50-year horizon. It shows how the trend is for...

En este documento se analizan los patrones recientes de la migracion entre Mexico y los Estados Unidos. Se revisan las diferentes fases y motivaciones de estos movimientos migratorios, sus caracteristicas que dan cuentan de su capacidad de ascenso social en la Union Americana y la cada vez mayor...

This paper surveys the empirical literature on human capital and productivity and summarizes the results of my own work on the subject. On balance, the available evidence suggests that investment in education has a positive, significant and sizable effect on productivity growth.According to my...