Uno de los objetivos del trabajo de la CEPAL es fortalecer la capacidad técnica de los gobiernos para el análisis de la evolución y perspectivas de las economías de la región y de las políticas para mejorar su desempeño. Parte importante de este esfuerzo es proveer asesoría en la...

This paper uses structural vector autoregression (SVAR) models to characterize the dynamic impact of fiscal policy on national saving. SVARs have extensively been used in case of monetary policy. Data adjusted for inflation, capital flight, the value loss of debt and cyclical effects, is used...

We estimate a small-scale macro model for the Mexican economy under the New Keynesian (NK) framework and alternative interest rate rules for Mexico. With these results we evaluate the performance of the Bank of Mexico against a set of optimality principles derived in the NK literature. We show...

Uno de los principales argumentos esgrimidos en la reforma al sistema de pensiones en México fue su impacto positivo en el ahorro. Este trabajo realiza una primera cuantificación de este impacto. Para ello se estima una serie de ahorro contractual generado por este programa, así como la...

This paper studies the sustainability of the fiscal policy for Mexico, according to the behavior of the Government budget restriction and the balance in the accumulated debt over the last two decades. We use the value of the debt and the empirical analysis is based in Wilcox (1989), were it is...

One of the main arguments for pension system reform in Mexico was its impact on savings. Our work presents a first quantification of this impact, by estimating the contractual savings generated by this program and its relationship with voluntary savings. Our results suggest that there is no...

This paper analyzes the effects of children on income, con sumption and saving profiles for Mexican families. We use the Life Cycle Model that allow us to follow the families behavior along his life cycle, while our empirical work is based on synthetic panels as pro posed by Browning, Deaton and...

We estimate a small-scale macro model for the Mexican economy under the New Keynesian (NK) framework and alternative interest rate rules for Mexico. With these results we evaluate the performance of the Bank of Mexico against a set of optimality principles derived in the NK literature. Our...

This paper analyzes the savings behavior of Mexican households under a PAYG pension system. We use a cohort analysis and construct a synthetic panel, that allow us to follow a particular cohort over time by considering repeated cross sections. We use data from five household surveys that allow...

This paper presents saving rate decomposition for Mexican households in 1984-1996 using a synthetic panel. The analysis focuses on low-income households and their saving rate trough the life cycle. Our results show that saving rate in poorer households is higher at the beginning and the end of...