This paper deals with the fiscal implications of a stabilization fund that allows for a stable consumption over time, in particular in the case of an oil producing and exporting country like Mexico. We present a model of optimal fiscal policy in the context of a country with important revenues...

This paper deals with the fiscal implications of a stabilization fund that allows for a stable consumption over time, in particular in the case of an oil producing and exporting country like México. We discuss the functioning of an oil stabilization fund based on international experience and...

This work analyzes the incidence of mathematical abilities in financial literacy for Mexicans between 15 and 18 years old attending school in Mexico City and the State of Mexico. Our results confirm that the levels of financial literacy are low. Considering the “L&M Focus”, only 6.6% of the...

In this document we make a first assessment of the impact of the counter cyclical fiscal measures adopted by Mexico had over the economy during the recent crisis. This is a highly controversial subject, both theoretically and empirically, due to the debate about the multipliers’ relevance....

In this paper we estimate the macroeconomic impact of the 1997 Mexican pension reform, which substituted a pay-as-you-go for a fully- funded system with individual accounts. To analyze the impact of the reform on GDP growth, three main channels are considered: national savings and domestic...

This paper gives an overview of the origins, development and contagion of the financial and economic crisis of 2008-2009. This work gives an appraisal of the policy measures taken by the international community. Furthermore, it also evaluates the impact and response of emerging markets to the...

We estimate a small-scale macro model for the Mexican economy under the New Keynesian framework. We then estimate alternative interest rate rules for Mexico, and use the results from both exercises to evaluate the performance of the Bank of Mexico against a set of optimality principles derived...