We analyse a model of two-sided matching and incentive contracts where expert investors (venture capitalists) with different monitoring capacities are matched with firms with different levels of initial wealth. Firms do not have sufficient start-up capital to cover their project costs and hence,...

This paper studies banking competition in Mexico. We use a contestable market approach to argue that competition in banking should be approached by considering all financial intermediaries and not only banks. In this sense, it is more important to look at the whole financial system. To...

We apply a merchant transmission expansion model to the trilateral market coupling arrangement among the Netherlands, Belgium and France as a generic example, and note that it can be applied to any general market splitting or coupling of different national power markets in Europe. In this...

This paper explores the influences of financial deepening on growth and its volatility. Following a review of the theoretical literature that has attempted to explain these relationships, the paper presents time series evidence for the cases of Mexico and the US. The results suggest that, in the...

This paper presents a cohort analysis of the participation in the labor force and in the formal and informal sectors of the economy. The participation rates are decomposed in age, cohort, and time effects. The life-cycle patterns in labor force participation and employment in the formal sector...

The objetive of this article is to characterize the population between 15 and 29 years old who does not attend school and does not work (NiNi, as they are know in Mexico). We used data from the 1990, 2000 and 2010 Cesuses of Population, the 1992-2010 Income and Expenditure Surveys and the...

This work performs a revision and an analysis about the macroeconomic impact of petroleum exploitation and exports in our country during the past thirty years. In this context; this study points out that the new transmission channels of the macroeconomic effect of petroleum are the public...

We use Maryland farm-level data to study the overall effect of voluntary conservation programs on permanent vegetative cover and the level of adoption of three soil-erosion reducing practices. In order to control for self-selectivity in participation we use a multivariate switching regression...

A broad summary of the theoretical literature on economic growth shows that this theory has transcended the neoclassical paradigm and that market rationality does not govern the human development process. Instead human development is the appropriate standard for rationality. Using Gidwitz et...

A methodology to estimate relative productivity in forest sites with several species throughout an efficiency index derived from radial and directional distance functions is described. The paper introduces the distance function as a measure of relative efficiency in the use of resources by mixed...