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The debate on the assumption of normality, as a necessary principle or not, in the modeling and analysis of some financial phenomena has been a common thread in the development of various areas of finance. The epistemological debate underlies a mathematical model that, despite its limitations,...
Persistent link: https://www.econbiz.de/10015212886
Objetivo: Este trabajo tiene dos objetivos, primero, evaluar el efecto de las transferencias monetarias directas a productores agrícolas del Programa de Producción para el Bienestar (PPB) en el desarrollo humano de los beneficiarios en los municipios de México. Para ello se estiman...
Persistent link: https://www.econbiz.de/10015213022
Este trabajo tiene como objetivo investigar si las industrias de petróleo, gas natural y los mercados accionarios de los países que conforman América del Norte impactan el crecimiento económico de de la región. Para ello se especifican diversos modelos econométricos, VAR para efectos de...
Persistent link: https://www.econbiz.de/10015213107
The aim of this paper is to show the convenience of using mathematical tools from quantum mechanics to solve some financial problems. In particular, the Vasicek short-rate model in continuous time is discussed in the framework of the Feynman path integral. To do this, the Lagrangian of the...
Persistent link: https://www.econbiz.de/10005427091
This paper attempts to reconcile all inferentia1 methods which by maximizing a criterion functiona1 produce non- informative and informative priors. In particular, Good's (1968) Minimax Evidence Priors, MEP, Zellner's (1971) Maximal Data Information Priors, MDIP, and Bernardo's (1979) Reference...
Persistent link: https://www.econbiz.de/10005465087
This paper carries out an analysis of cointegration between economic growth and the dynamics of the flows of foreign portfolio investment (FPI) in Mexico. Empirical evidence shows, through a VAR model and Granger causality tests, that flows coming from the FPI have no significant effect on the...
Persistent link: https://www.econbiz.de/10011108121
This paper carries out an exploration of how the Mexican Bank Central conducted its monetary policy during the crisis 2007-2009 based on the analytical framework of the neoclassical macroeconomics. It is shown that in that period it was followed a countercyclical policy to reduce the crisis...
Persistent link: https://www.econbiz.de/10011109333
This paper examines the factors, external and internal, determining the input and output flows of foreign portfolio investment in Mexico during the period 1995:01-2005:01. To do this, the dynamics of interest rates and the stock market returns in Mexico and the United States, as well as the...
Persistent link: https://www.econbiz.de/10011109336
This research is aimed at assessing the impact of the stock market capitalization and the banking spread in per capita economic growth (as a proxy of economic development) in the major Latin American economies during the period 1994-2012. To do this, a panel data model is estimated with both...
Persistent link: https://www.econbiz.de/10011109424
This paper is aimed at studying the optimal portfolio problem when the assets have returns from -stable distributions. The optimal portfolio contains a riskless asset and various risky assets, including structured notes. The basic statistics of the assets are calculated and both the...
Persistent link: https://www.econbiz.de/10011110833