External Publications
The following is a list of research papers related to subjects in economics and/or finance,
published externally by Banco de Mexico’s personnel in academic journals and books, and/or
conference volumes.
2016
Alcaraz, C., D. Chiquiar, M. J. Orraca, and A. Salcedo. (2016). "The effect of publicly
provided health insurance on education outcomes in Mexico", forthcoming in World Bank
Economic Review, DOI: 10.1093/wber/lhw028. (Working Paper No. 2012-10, Banco de
Mexico).
Batiz-Zuk, E., F. López-Gallo, S. Martínez-Jaramillo, and J. Solórzano Margain. (2016).
"Calibrating Limits for Large Interbank Exposures from a System-Wide Perspective",
forthcoming in Journal of Financial Stability, DOI: 10.1016/j.jfs.2015.04.007.
Benavides, G. (2016). "Exchange Rate Risk Premium: An Analysis of its Determinants for
the Mexican Peso-USD", Revista Mexicana de Economía y Finanzas (REMEF), Vol. 11, No. 1,
pp. 23. (Working Paper No. 2016-11, Banco de Mexico).
Carrillo, J. (2016). "Discussion of 'The effect of unconventional monetary policy on inflation
expectations: Evidence from firms in the UK'", forthcoming in International Journal of
Central Banking.
García, B. C., and J. Wen. (2016). "Income Instability and Fiscal Progression", forthcoming
in Canadian Journal of Economics. (Working Paper No. 2016-07, Banco de Mexico).
Gutierrez, E., L. Juárez, and A. Rubli. (2016). "The Effect of a Transfer Program for the
Elderly in Mexico City on Co-Residing Children's School Enrollment", forthcoming in World
Bank Economic Review, DOI: 10.1093/wber/lhw012. (Working Paper No. 2015-09, Banco de
Mexico).
Hernández del Valle, G. (2016). "On the zeros of the Pearcey integral and a Rayleigh-type
equation", forthcoming in Boletín de la Sociedad Matemática Mexicana , DOI:
10.1007/s40590-016-0142-6. (Working Paper No. 2014-23, Banco de Mexico).
Juárez-Torres, M., S. Guerrero, and G. Hernández del Valle. (2016). "A functional approach
to test trending volatility: Evidence of trending volatility in the price of Mexican agricultural
products", forthcoming in Agricultural Economics. (Working Paper No. 2016-04, Banco de
Mexico).
Leal, J. C. (2016). "Cross-Sector Misallocation with Sector-specific Distortions", forthcoming
in World Bank Economic Review, DOI: 10.1093/wber/lhw017.
Leal, J. C., and J. Alonso-Ortiz. (2016). "Cross-subsidies, and the elasticity of informality to
social expenditures", forthcoming in Review of Income and Wealth. (Working Paper No.
2014-26, Banco de Mexico).
Lopez Martin, B. (2016). "From Firm Productivity Dynamics to Aggregate Efficiency",
forthcoming in World Bank Economic Review.
Martínez-Fritscher, A. C., and C. Rodriguez Zamora. (2016). "An Evaluation of the 1997
Expenditure Decentralization Reform in Mexico: The Case of the Health Sector", Public
Finance Review, DOI: 10.1177/1091142115571578, Vol. 44, No. 5, pp. 563-588. (Working
Paper No. 2011-16, Banco de Mexico).
Nuguer, V. (2016). "Financial Intermediation in a Global Environment", forthcoming in
International Journal of Central Banking. (Working Paper No. 2015-05, Banco de Mexico).
Roldán, J., J. Carrillo, and M. R. Elizondo. (2016). "Discussion of 'Should the U.S. Federal
Reserve increase the federal funds rate in 2016? An assessment based on the neutral
interest rate'", Investigación Económica, Vol. 75, No. 296, pp. 5-42.
Tobal, M., and R. Yslas. (2016). "Dos Modelos de Intervención Cambiaria: Los Casos de
México y Brasil.", forthcoming in Investigación Conjunta de Bancos Centrales de las
Américas, CEMLA. (Working Paper No. 2016-14, Banco de Mexico).
2015
Batiz-Zuk, E., G. Christodoulakis, and S. Poon. (2015). "The Robustness of Estimators in
Structural Credit Loss Distributions", The Journal of Credit Risk, Vol. 11, No. 2.
Batiz-Zuk, E., G. Christodoulakis, and S. Poon. (2015). "Credit Contagion in the Presence of
Non-Normal Shocks", International Review of Financial Analysis, Vol. 37, pp. 129-139.
Caamal Olvera, C. G., and E. Rangel. (2015). "Measuring the Impact of the Chinese
Competition on Mexican Labor Market: 1990-2013", The North American Journal of
Economics and Finance, DOI: 10.1016/j.najef.2015.09.004, Vol. 34, pp. 351-363.
Calderón, G., A. Diaz-Cayeros, B. Magaloni, and G. Robles. (2015). "The Beheading of
Criminal Organizations and the Dynamics of Violence in Mexico's Drug War", Journal of
Conflict Resolution, Vol. 59, No. 8, pp. 1455-1485.
Campos Ortiz, F., and M. Oviedo Pacheco. (2015). "Extensión de los Predios Agrícolas y
Productividad: El Caso del Campo Cañero en México", El Trimestre Económico, Vol. LXXXII,
No. 325, pp. 147-181. (Working Paper No. 2013-16, Banco de Mexico).
Chiquiar, D., and M. Tobal. (2015). "Macro-Financial Policy Challenges in the Face of a
Complex Environment: The Case of Mexico", The International Trade Journal , DOI:
10.1080/08853908.201, Vol. 29, No. 5, pp. 361-375.
Colunga Ramos, L. F., and L. Torre. (2015). "Patterns of TFP Growth in Mexico: 19912011", The North American Journal of Economics and Finance, DOI:
10.1016/j.najef.2015.09.007, Vol. 34, pp. 398-420. (Working Paper No. 2015-24, Banco de
Mexico).
de Melo, G., and M. Piaggio. (2015). "The Perils of Peer Punishment: Evidence from a
Common Pool Resource Experiment", Ecological Economics, DOI:
10.1016/j.ecolecon.2015.05.011, Vol. 120, pp. 376-393. (Working Paper No. 2015-12, Banco
de Mexico).
Elizondo, M. R., P. Padilla, and M. Bladt. (2015). "Pricing American Options Using Transition
Probabilities: A Dynamical Systems Approach", Open Journal of Statistics , DOI:
10.4236/ojs.2015.56056, Vol. 5, No. 6, pp. 525-542. (Working Paper No. 2009-06, Banco de
Mexico).
Juárez, L., and T. Pfutze. (2015). "The Effects of a Non-Contributory Pension Program on
Labor Force Participation: The Case of 70 y Mas in Mexico", Economic Development and
Cultural Change, DOI: 10.1086/681668, Vol. 63, No. 4, pp. 685-713. (Working Paper No.
2014-12, Banco de Mexico).
López Noria, G. (2015). "El Efecto de la Liberalización Comercial sobre los Márgenes de
Precios a Costos Marginales del Sector Manufacturero: El caso de México, 1994-2003", El
Trimestre Económico, Vol. LXXXIV, No. 327, pp. 593-616. (Working Paper No. 2013-10,
Banco de Mexico).
López Noria, G. (2015). "The Effect of Trade and FDI on Inter-Industry Wage Differentials:
The Case of Mexico", The North American Journal of Economics and Finance , DOI:
10.1016/j.najef.2015.09.006, Vol. 34, pp. 381-397. (Working Paper No. 2011-10, Banco de
Mexico).
López Videla Mostajo, B., and E. Rodríguez-Oreggia. (2015). "Imputación de Ingresos
Laborales: Una Aplicación con Encuestas de Empleo en México", El Trimestre Económico,
Vol. LXXXII, No. 325, pp. 117-146. (Working Paper No. 2014-21, Banco de Mexico).
Ramos-Francia, M., and S. García-Verdú. (2015). "Is Trouble Brewing for EMEs?", BIS
Papers, No. 83, pp. 243-272. (Working Paper No. 2015-08, Banco de Mexico).
Rangel, E., E. Aguayo Téllez, and J. Martínez. (2015). "Explaining the Mexican-American
Health Paradox Using Selectivity Effects", International Migration Review , DOI:
10.1111/imre.12112, Vol. 49, No. 4, pp. 878-906. (Working Paper No. 2015-02, Banco de
Mexico).
Rangel, E., and L. Torre. (2015). "Determinants of the Cost of Starting a Business in
Mexico", The North American Journal of Economics and Finance, DOI:
10.1016/j.najef.2015.09.003, Vol. 34, pp. 430-449. (Working Paper No. 2014-25, Banco de
Mexico).
Rodríguez, M. C., and E. Rangel. (2015). "¿Tener Obesidad es Realmente una Desventaja
en el Mercado Laboral Mexicano?", Ensayos Revista de Economía, Vol. XXXIV, No. 2, pp. 3562.
Rodriguez Zamora, C., and J. Lim. (2015). "La regla del impuesto óptimo en presencia del
uso del tiempo. Una aplicación utilizando datos de México", El Trimestre Económico, Vol.
LXXXIV, No. 327, pp. 707-739. (Working Paper No. 2010-05, Banco de Mexico).
Sanchez-Romeu, P., and E. Rattia-Lima. (2015). "Estrategias de Ajuste ante Choques
Hipotéticos de Oferta y Demanda: Resultados de una Encuesta a Empresas Mexicanas", El
Trimestre Económico, Vol. LXXXIV, No. 327, pp. 617-674. (Working Paper No. 2013-11,
Banco de Mexico).
Ventosa Santaularia, D., M. D. J. Gómez Zaldívar, and F. H. Wallace. (2015). "The real
Exchange rate, regime changes and volatility shifts", Applied Economics , DOI:
10.1080/00036846.201, Vol. 47, No. 24, pp. 2445-2454.
2014
Aguilar, A. M., G. Cuadra, C. Ramírez, and D. Sámano. (2014). "Anchoring of Inflation
Expectations after Adverse Supply Shocks", Monetaria, Vol. II, No. 1, Article 2, pp. 49-81.
(Working Paper No. 2014-20, Banco de Mexico).
Arim, R., and G. de Melo. (2014). "La "Incapabilidad" para Ser Autosuficiente como un
Indicador de Pobreza. Uruguay 1991-2005", Desarrollo como libertad en América Latina:
fundamentos y aplicaciones, Universidad Iberoamericana, Chapter 6.
Calderón, G. (2014). "¿Cómo Afectan las Guarderías en las Decisiones Laborales de las
Madres?", Mexicanos Primero (ed.), Los Invisibles: Las Niñas y los Niños de 0 a 6 Años,
MEXICANOS PRIMERO VISION 2030, A.C., Chapter 4, Vol. 1, No. 1, pp. 60-78.
Cañón Salazar, C. I., and P. Margaretic. (2014). "Correlated Bank Runs, Interbank Markets
and Reserve Requirements", Journal of Banking and Finance, Vol. 49, pp. 515-533.
Carrillo, J., and C. Poilly. (2014). "Investigating the Zero Lower Bound in the Nominal
Interest Rate under Financial Instability", Julio Leal and Stephen McKnight (ed.),
Contemporary Topics In Macroeconomics, El Colegio de México. (Working Paper No. 201401, Banco de Mexico).
Chávez Martín del Campo, J. C. (2014). "Un Enfoque no Paramétrico para la
Descomposición de la Productividad del Trabajo en la Industria Manufacturera Regional",
Ensayos Revista de Economía, Vol. XXXIII, No. 2, pp. 33-58. (Working Paper No. 2013-08,
Banco de Mexico).
Covarrubias, E., and E. Accinelli. (2014). "An Extension of the Sard-Smale Theorem to
Convex Domains with an Empty Interior", Journal of Mathematical Economics , DOI:
http://dx.doi.org/10.1016/j.jmateco.2014.10.005, Vol. 55, pp. 123-128.
Delajara, M., S. Freije, and I. Soloaga. (2014). "Evaluación del Programa de Capacitación a
Desempleados en México: Aprendiendo del Programa Mediante la Comparación de Métodos
de Evaluación.", Políticas Públicas, Vol. 1, No. 1, pp. 9-41.
Garcia-Almanza, A. L., B. Alexandrova-Kabadjova, and S. Martinez-Jaramillo. (2014).
"Bankruptcy Prediction for Banks: An Artificial Intelligence Approach to Improve
Understandability", Xin-She Yang (ed.), Artificial Intelligence, Evolutionary Computing and
Metaheuristics, Springer-Verlag Berlin Heidelberg, pp. 633-656.
García-Verdú, S., and M. Ramos-Francia. (2014). "Interventions and Expected Exchange
Rates in Emerging Market Economies", Quarterly Journal of Finance , DOI:
10.1142/S20101392145, Vol. 4, No. 1, pp. 34. (Working Paper No. 2014-11, Banco de
Mexico).
Hernández del Valle, G., and C. Pacheco González. (2014). "Hitting Times for Bessel
Processes", Communications on Stochastic Analysis, Vol. 9, No. 1, pp. 14. (Working Paper
No. 2014-27, Banco de Mexico).
Hernandez, M. A., R. Ibarra-Ramírez, and D. R. Trupkin. (2014). "How Far Do Shocks Move
Across Borders? Examining Volatility Transmission in Major Agricultural Futures Markets",
European Review of Agricultural Economics, DOI: 10.1093/erae/jbt020, Vol. 41, No. 2, pp.
301-325. (Working Paper No. 2011-15, Banco de Mexico).
Leal, J. C. (2014). "The Informal Sector in Contemporary Models of the Aggregate
Economy", Julio Leal and Stephen McKnight (ed.), Contemporary Topics In Macroeconomics,
El Colegio de México, Chapter 4, pp. 105-127. (Working Paper No. 2014-24, Banco de
Mexico).
Leal, J. C. (2014). "Tax Collection, The Informal Sector, and Productivity", Review of
Economic Dynamics, DOI: http://dx.doi.org/10.1016/j.red.2013.07.004, Vol. 17, No. 2, pp.
262-286. (Working Paper No. 2013-22, Banco de Mexico).
Leal, J. C., and S. McKnight. (2014). "Reflections on Modern Macroeconomics", Julio Leal &
Stephen McKnight (ed.), Contemporary Topics In Macroeconomics, El Colegio de México,
Chapter 1, pp. 19-42.
Leal, J. C., and S. McKnight. (2014). "Contemporary Topics in Macroeconomics", Julio Leal
and Stephen McKnight (ed.), Contemporary Topics In Macroeconomics , El Colegio de
México, pp. 183.
Martínez-Fritscher, A. C. (2014). "Política Fiscal en Brasil y México: Convergencias,
Divergencias y Retos, 1980-2010", En Busca del Crecimiento: Una Comparación de las
Estrategias de Desarrollo de Brasil y México (1982-2012), CIDE, Chapter 3.
Martínez-Fritscher, A. C., A. Musacchio, and M. Viarengo. (2014). "Colonial Institutions,
Trade Shocks, and the Diffusion of Elementary Education in Brazil, 1889?1930", Journal of
Economic History, DOI: 10.1017/S0022050714000588, Vol. 74, No. 3, Article 73. (Working
Paper No. 2010-18, Banco de Mexico).
Martinez-Jaramillo, S., B. Alexandrova-Kabadjova, B. Bravo-Benitez, and J. P. SolorzanoMargain. (2014). "An Empirical Study of the Mexican Banking System's Network and its
Implications for Systemic Risk", Journal of Economic Dynamics and Control, Vol. 40, pp.
242-265. (Working Paper No. 2012-07, Banco de Mexico).
Martinez-Ovando, J. C., S. I. Olivares-Guzman, and A. Roldan-Rodriguez. (2014). "A
Bayesian Nonparametric Framework to Inference on Totals of Finite Populations", E.
Lanzarone, and F. Ieva (eds.), Contributions of Young Researchers to Bayesian statistics,
DOI: ISBN: 978-3-319-02083-9, Springer, Chapter 15, pp. 77-81.
Medellín Mendoza, S., and E. Rangel. (2014). "Efectos de Vecindario y Crímenes Violentos
en el Área Metropolitana de Monterrey", EconoQuantum, Vol. 12, No. 1.
2013
Alcaraz, C., and C. Nakashima. (2013). "Inflación y Pobreza en México 1993-2009", A.
Mendoza (ed.), Aplicaciones en Economía y Ciencias Sociales con Stata, Stata Press, Chapter
3, pp. 47-74.
Amuedo-Dorantes, C., and L. Juárez. (2013). "Old-Age Government Transfers and the
Crowding Out of Private Gifts: The 70 and Above Program for the Rural Elderly in Mexico",
Southern Economic Journal, DOI: 10.4284/0038-4038-2013.055, Vol. 81, No. 3, pp. 782802.
Antón, A., and J. C. Leal. (2013). "Aggregate Effects of a Universal Social Insurance Fiscal
Reform", IDB Working Paper Series, No. IDB-WP-429.
Batiz-Zuk, E., G. Christodoulakis, and S. H. Poon. (2013). "Structural Credit Loss
Distributions under Non-Normality", Journal of Fixed Income, Vol. 23, No. 1, pp. 1-20.
Cañón Salazar, C. I., G. Friebel, and P. Seabright. (2013). "Market Design and Market
Failure", Wittek, R., T.A.B. Snijders, V. Nee (ed.), Handbook of Rational Choice Social
Research, Stanford University Press, pp. 473-513.
Chávez Martín del Campo, J. C., and F. Fonseca Hernández. (2013). "Technical Efficiency,
Technological Development, and The Labor Productivity Gap in Mexican Manufacturing",
Regional and Sectoral Economic Studies, Vol. 13, No. 2, pp. 43-58. (Working Paper No.
2012-03, Banco de Mexico).
Cortés Espada, J. F. (2013). "Estimación del Traspaso del Tipo de Cambio a los Precios en
México.", Monetaria, Vol. XXXV, No. 2, pp. 311-344. (Working Paper No. 2013-02, Banco de
Mexico).
Covarrubias, E. (2013). "The Number of Equilibria of Smooth Infinite Economies", Journal of
Mathematical Economics, Vol. 49, No. 4, pp. 263-265. (Working Paper No. 2011-02, Banco
de Mexico).
Delajara, M. (2013). "Comovimiento y Concordancia Cíclica del Empleo en los Estados
Mexicanos", Economía Mexicana Nueva Época, Vol. XXII, No. 2, pp. 297-340.
Delajara, M., and F. Wendelspiess Chávez Juárez. (2013). "Birthweight Outcomes in Bolivia:
The Role of Maternal Height, Ethnicity, and Behavior", Economics and Human Biology, Vol.
11, pp. 56-68.
Guerrero, S., and R. Innes. (2013). "Self-Policing Statutes: Do They Reduce Pollution and
Save Regulatory Costs?", The Journal of Law, Economics, & Organization, Vol. 29, No. 3, pp.
608-668.
Ibarra-Ramírez, R. (2013). "A Spatial Dominance Approach to evaluate the Performance of
Stocks and Bonds: Does the Investment Horizon Matter?", The Quarterly Review of
Economics and Finance, DOI: http://dx.doi.org/10, Vol. 53, No. 4, pp. 429-439. (Working
Paper No. 2011-03, Banco de Mexico).
Lopez Castañon, C., S. Martinez-Jaramillo, and F. Lopez-Gallo. (2013). "Systemic Risk,
Stress Testing, and Financial Contagion: Their Interaction and Measurement", Simulation in
Computational Finance and Economics: Tools and Emerging Applications , IGI Global,
Chapter 10, pp. 181-210.
Murillo, J. A., and P. Sanchez-Romeu. (2013). "Evaluación del Poder de Predicción de las
Expectativas de Inflación de los Consumidores en México", El Trimestre Económico, Vol.
LXXXI, No. 322, pp. 311-355. (Working Paper No. 2012-13, Banco de Mexico).
Noriega, A. E., C. Capistrán, and M. Ramos-Francia. (2013). "On the Dynamics of Inflation
Persistence Around the World", Empirical Economics , Vol. 44, No. 3, pp. 1243-1265.
(Working Paper No. 2009-02, Banco de Mexico).
Ramos-Francia, M., A. M. Aguilar, S. García-Verdú, and G. Cuadra. (2013). "Heading into
Trouble: A Comparison of the Latin American Crises and the Euro Area´s Current Crisis",
Monetaria, Vol. I, No. 1, pp. 87-165. (Working Paper No. 2014-17, Banco de Mexico).
Ramos-Francia, M., and S. García-Verdú. (2013). "Cooperation among Central Banks during
Crises: Lessons from the Recent Experience", Central Bank Cooperation at the Beginning of
the 21st Century. CEMLA 60th Anniversary Conference, pp. 191-206.
Solorzano-Margain, J. P., S. Martinez-Jaramillo, and F. Lopez-Gallo. (2013). "Financial
Contagion: Extending the Exposures Network of the Mexican Financial System",
Computational Management Science, Vol. 10, No. 2 - 3.
Yates, D. N., F. Vásquez Lavin, D. P. Purkey, S. Guerrero, M. Hanemann, and J. Sieber.
(2013). "Using Economic and other Performance Measures to Evaluate a Municipal Drought
Plan", Water Policy, Vol. 15, pp. 648-668.
2012
Abarca, G., G. Benavides, and J. G. Rangel. (2012). "Exchange Rate Market Expectations
and Central Bank Policy: The Case of the Mexican Peso/U.S. Dollar from 2005-2009", Journal
of Derivatives, Vol. 19, No. 4, pp. 70-90. (Working Paper No. 2010-17, Banco de Mexico).
Alcaraz, C., D. Chiquiar, and A. Salcedo. (2012). "Remittances, Schooling, and Child Labor
in Mexico", Journal of Development Economics, Vol. 97, pp. 156-165. (Working Paper No.
2010-14, Banco de Mexico).
Alexandrova-Kabadjova, B., and F. Solís. (2012). "The Mexican Experience in How the
Settlement of Large Payments is Performed in the Presence of High Volume of Small
Payments", M. Hellqvist, and T. Laine (eds.), Diagnostics for the Financial Markets
Computational Studies of Payment System, Scientific Monographs, Chapter 16, pp. 431-460.
Alexandrova-Kabadjova, B., and F. Solís. (2012). "Managing Intraday Liquidity: The Mexican
Experience", B. Alexandrova-Kabadjova, S. Martinez-Jaramillo, A. L. Garcia-Almanza, and E.
Tsang (eds.), Simulation in Computational Finance and Economics: Tools and Emerging
Applications, IGI Global, Chapter 8, pp. 143-160.
Alexandrova-Kabadjova, B., S. G. Castellanos, and A. L. Garcia-Almanza. (2012). "The
Adoption Process of Payment Cards - An Agent-Based Approach", B. AlexandrovaKabadjova, S. Martinez-Jaramillo, A. L. Garcia-Almanza, and E. Tsang (eds.), Simulation in
Computational Finance and Economics: Tools and Emerging Applications , IGI Global,
Chapter 1, pp. 1-28. (Working Paper No. 2012-02, Banco de Mexico).
Benavides, G. (2012). "Predictive Accuracy of Futures Options Implied Volatility: The Case
of the Exchange Rate Futures Mexican Peso - U.S. Dollar", Panorama Económico, Vol. V, No.
9, pp. 55-95. (Working Paper No. 2006-04, Banco de Mexico).
Benavides, G., and C. Capistrán. (2012). "Forecasting Exchange Rate Volatility: The
Superior Performance of Conditional Combinations of Time Series and Option Implied
Forecasts", Journal of Empirical Finance, Vol. 19, pp. 627-639. (Working Paper No. 2009-01,
Banco de Mexico).
Blackman, A., and S. Guerrero. (2012). "What Drives Voluntary Eco-Certification in
Mexico?", Journal of Comparative Economics, Vol. 40, pp. 256-268.
Capistrán, C., R. Ibarra-Ramírez, and M. Ramos-Francia. (2012). "El Traspaso de
Movimientos del Tipo de Cambio a los Precios: Un Análisis para la Economía Mexicana", El
Trimestre Económico, Vol. LXXIX (4), No. 316, pp. 813-838. (Working Paper No. 2011-12,
Banco de Mexico).
Cortés Espada, J. F., and M. Ramos-Francia. (2012). "Un modelo Afín de la Estructura
Temporal de Tasas de Interés en México", La Deuda Pública en México, Número Especial de
la Gaceta de Economía, pp. 331-350. (Working Paper No. 2008-09, Banco de Mexico).
Crost, B., and S. Guerrero. (2012). "The Effect of Alcohol Availability on Marijuana Use:
Evidence from the Minimum Legal Drinking Age", Journal of Health Economics, Vol. 31, pp.
112-121.
Fernández, R. O., and J. E. Vera-Valdés. (2012). "Simulation Analysis as a Way to Assess
the Performance of Important Unit Root and Change in Persistence Tests", B. AlexandrovaKabadjova, S. Martinez-Jaramillo, A. L. Garcia-Almanza, and E. Tsang (eds.), Simulation in
Computational Finance and Economics: Tools and Emerging Applications , IGI Global,
Chapter 18, pp. 378-396.
García-Verdú, S. (2012). "Algunas Consideraciones sobre la Estructura Temporal de las
Tasas de Interés en México", La Deuda Pública en México, Número Especial de la Gaceta de
Economía, pp. 351-397. (Working Paper No. 2011-18, Banco de Mexico).
Ibarra-Ramírez, R. (2012). "Do Disaggregated CPI Data Improve the Accuracy of Inflation
Forecasts?", Economic Modelling, DOI: http://10.0.3.248/j.econmod.2012.04.017, Vol. 29,
No. 4, pp. 1305-1313. (Working Paper No. 2010-01, Banco de Mexico).
Kaiser, K., and R. Schwabe. (2012). "Preference for Variety", The B.E. Journal of Theoretical
Economics Contributions, Vol. 12, No. 1, Article 3, pp. 1-30. (Working Paper No. 2011-13,
Banco de Mexico).
Noriega, A. E., and C. A. Rodríguez-Pérez. (2012). "Estacionariedad, Cambios Estructurales
y Crecimiento Económico en México: 1895-2008", El Trimestre Económico, Vol. LXXIX (2),
No. 314, pp. 333-378. (Working Paper No. 2011-11, Banco de Mexico).
Noriega, A. E., and D. Ventosa-Santaulária. (2012). "The Effects of Structural Breaks on the
Engle-Granger Test for Cointegration", Estudios Económicos, Vol. 17, No. 1, pp. 99-132.
Ramos-Francia, M., C. Capistrán, and G. Cuadra. (2012). "Policy Response to External
Shocks: Lessons from the Crisis", J. Braude, Z. Eckstein, S. Fischer, and K. Flug (eds.), The
Great Recession: Lessons for Central Bankers, MIT Press, Chapter 8, pp. 211-243. (Working
Paper No. 2011-14, Banco de Mexico).
Ramos-Francia, M., and J. G. Rangel. (2012). "Revisiting the Effects of Country Specific
Fundamentals on Sovereign Default Risk", Economics Bulletin, Vol. 32, No. 4, pp. 30083016.
Rangel, J. G., and R. F. Engle. (2012). "The Factor-Spline-GARCH Model for High and Low
Frequency Correlations", Journal of Business and Economic Statistics, Vol. 30, No. 1, pp.
109-124. (Working Paper No. 2009-03, Banco de Mexico).
Salcedo, A., T. Schoellman, and M. Tertilt. (2012). "Families as Roommates: Changes in
U.S. Household Size from 1850 to 2000", Quantitative Economics, Vol. 3, pp. 133-175.
Sánchez-Valadez, M. (2012). "Decisiones Financieras, Competencia en el Mercado y
Desempeño de las Empresas: Evidencia Empírica para Iberoamérica", Estudios de Economía
Aplicada, Vol. 30, No. 1, pp. 1-36. (Working Paper No. 2013-06, Banco de Mexico).
Sánchez-Valadez, M. (2012). "Entorno Competitivo, Endeudamiento y Especificidad de los
Activos: Evidencia en el Caso de las Empresas Españolas", EconoQuantum, Vol. 9, No. 1, pp.
101-129. (Working Paper No. 2013-15, Banco de Mexico).
2011
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Alcaraz, C., D. Chiquiar, and M. Ramos-Francia. (2011). "Wage Differentials in Mexico's
Urban Labor Market", Economics Bulletin, Vol. 31, No. 3, pp. 2500-2508. (Working Paper No.
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Alexandrova-Kabadjova, B., E. Tsang, and A. Krause. (2011). "Market Structure and
Information in Payment Card Markets", International Journal of Automation and Computing,
Vol. 8, No. 3, pp. 364-370.
Alexandrova-Kabadjova, B., E. Tsang, and A. Krause. (2011). "Competition is Bad for
Consumers: Analysis of an Artificial Payment Card Market", Journal of Advanced
Computational Intelligence and Intelligent Informatics, Vol. 15, No. 2, pp. 188-196.
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for an Artificial Payment Card Market. Is Learning Possible?", Journal of Intelligent Learning
Systems and Application, Vol. 3, No. 2, pp. 63-74.
Amoroso, N., D. Chiquiar, and M. Ramos-Francia. (2011). "Technology and Endowments as
Determinants of Comparative Advantage: Evidence from Mexico", The North American
Journal of Economics and Finance, Vol. 22, No. 2, pp. 164-196. (Working Paper No. 200801, Banco de Mexico).
Chortareas, G., J. G. Garza-García, and C. Girardone. (2011). "Banking Sector Performance
in Latin America: Market Power versus Efficiency", Review of Development Economics, Vol.
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Chortareas, G., J. G. Garza-García, and C. Girardone. (2011). "Financial Deepening and
Bank Productivity in Latin America", The European Journal of Finance , DOI:
10.1080/1351847X.2010.538512, pp. 1-17.
Covarrubias, E. (2011). "The Equilibrium Set of Economies with a Continuous Consumption
Space", Journal of Mathematical Economics, Vol. 47, pp. 137-142. (Working Paper No. 201010, Banco de Mexico).
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Policy", Robert W. Kolb (ed.), Sovereign Debt: From Safety to Default, John Wiley & Sons,
No. 33, pp. 303-308.
Delajara, M. (2011). "Comovimiento Regional del Empleo durante el Ciclo Económico en
México", El Trimestre Económico, Vol. LXXVIII, No. 311, pp. 613-642. (Working Paper No.
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Elizondo, M. R., E. Morales, and J. G. Rangel. (2011). "Inflación, Crecimiento y Bienestar
Social", Monetaria, Vol. XXXIV, No. 2, pp. 125-196.
Garcia-Almanza, A. L., S. Martinez-Jaramillo, B. Alexandrova-Kabadjova, and E. Tsang.
(2011). "Using Genetic Programming Systems as Early Warning to Prevent Bank Failure",
A.Y. Yap (ed.), Information Systems for Global Financial Markets: Emerging Developments
and Effects, IGI Global, Chapter 14, pp. 369-382.
Noriega, A. E., M. Ramos-Francia, and C. A. Rodríguez-Pérez. (2011). "Demanda por Dinero
en México: 1986-2010", El Trimestre Económico, Vol. LXXVIII (4), No. 312, pp. 699-749.
Peña, T., S. Martinez-Jaramillo, and B. Abadu. (2011). "Bankruptcy Prediction: A
Comparison of Some Statistical and Machine Learning Techniques", Computational Methods
in Economic Dynamics, Vol. 13, Part. 1, pp. 109-131. (Working Paper No. 2009-18, Banco de
Mexico).
Rangel, J. G. (2011). "Macroeconomic News, Announcements, and Stock Market Jump
Intensity Dynamics", Journal of Banking and Finance, Vol. 35, No. 5, pp. 1263-1276.
Salgado-Banda, H., and L. Bernal. (2011). "Multifactor Productivity and its Determinants: An
Empirical Analysis for Mexican Manufacturing", Journal of Productivity Analysis, Vol. 36, pp.
293-308. (Working Paper No. 2007-09, Banco de Mexico).
Sidaoui, J., M. Ramos-Francia, and G. Cuadra. (2011). "Global Liquidity, Capital Flows and
Challenges for Policymakers: The Mexican Experience", BIS Papers, No. 57, pp. 239-260.
Sidaoui, J., M. Ramos-Francia, and G. Cuadra. (2011). "The Global Financial Crisis and
Policy Response in Mexico", BIS Papers, No. 54, pp. 279-298.
2010
Benavides, G. (2010). "Forecasting Short-Run Inflation Volatility Using Futures Prices: An
Empirical Analysis from a Value at Risk Perspective", Revista de Administración, Finanzas y
Economía (Journal of Management, Finance and Economics) , Vol. 4, No. 2, pp. 1-27.
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Benavides, G. (2010). "The Theory of Storage and Price Dynamics of Agricultural
Commodity Futures: The Case of Corn and Wheat", Ensayos Revista de Economía, Vol.
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Forecasts Using Disaggregated Data", Economic Modelling, Vol. 27, No. 3, pp. 666-677.
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Capistrán, C., and G. López. (2010). "Las Expectativas Macroeconómicas de los
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Dispersion of Inflation Expectations?", Journal of Money Credit and Banking, Vol. 42, No. 1,
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México: Un Análisis de los Datos de la Encuesta Nacional de Ingresos y Gastos de los
Hogares 2006", El Trimestre Económico, Vol. LXXVII (1), No. 305, pp. 1-35.
Chiquiar, D., A. E. Noriega, and M. Ramos-Francia. (2010). "A Time Series Approach to Test
a Change in Inflation Persistence: The Mexican Experience", Applied Economics, Vol. 42, pp.
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Covarrubias, E. (2010). "Comportamiento de Economías de Intercambio en el Largo Plazo",
Perspectivas: Revista de Análisis de Economía, Comercio y Negocios Internacionales, Vol. 4,
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Covarrubias, E. (2010). "Regular Infinite Economies", The B.E. Journal of Theoretical
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Emerging Markets", Review of Economic Dynamics, Vol. 13, pp. 452-469. (Working Paper
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Taller Now?", Economics and Human Biology, Vol. 8, pp. 212-222.
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"Understanding Bank Failure: A Close Examination of Rules Created by Genetic
Programming", IEEE Electronics, Robotics and Automotive Mechanics Conference,
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Garcia-Almanza, A. L., B. Alexandrova-Kabadjova, and S. Martinez-Jaramillo. (2010).
"Evolutionary Computational Techniques in Marketing", Encyclopedia of Machine Learning,
Springer-Verlag Berlin Heidelberg, pp. 351-353.
Garza-García, J. G. (2010). "What Influences Net Interest Rate Margins? Developed versus
Developing Countries", Banks and Bank Systems, Vol. 5, No. 4, pp. 5-14.
Garza-García, J. G., and M. E. Vera-Juárez. (2010). "Who Influences Latin American Stock
Market Returns? China versus USA", International Research Journal of Finance and
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Eléctricas Públicas de México", Economía Mexicana Nueva Época, Vol. XIX, No. 1, pp. 31-89.
Martínez-Fritscher, A. C., and A. Musacchio. (2010). "Endowments, Fiscal Federalism, and
the Cost of Capital for States: Evidence from Brazil, 1891-1930", Financial History Review,
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Martinez-Jaramillo, S., A. L. Garcia-Almanza, B. Alexandrova-Kabadjova, and T. Peña.
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"Evolutionary Computation in Economics", Encyclopedia of Machine Learning, SpringerVerlag Berlin Heidelberg, pp. 337-344.
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"Systemic Risk, Financial Contagion and Financial Fragility", Journal of Economic Dynamics
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Content of the PPI on CPI Inflation: The Case of Mexico", BIS Papers, en: Bank for
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2009
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Application of Volatility Models, Option Implieds and Composite Approaches for Futures
Prices of Corn and Wheat", Revista de Administración, Finanzas y Economía (Journal of
Management, Finance and Economics), Vol. 3, No. 2, pp. 40-59.
Benavides, G., and A. Huidobro. (2009). "Are Loan Guarantees Effective? The Case of
Mexican Government Banks", Well-being and Social Policy, Vol. 5, No. 1, pp. 19-44.
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Interés y del Tipo de Cambio según Diferentes Instrumentos de Política Monetaria: México,
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Sistema Bancario Mexicano", El Trimestre Económico, Vol. LXXVI, No. 301, pp. 237-263.
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México: ¿Prima de Riesgo o Irracionalidad?", Gaceta de Economía, Year 15, No. 26, pp. 2351.
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Risk: Stress Testing the Banking System", Intelligent Systems in Accounting, Finance and
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Martinez-Jaramillo, S., and E. Tsang. (2009). "An Heterogeneous, Endogenous and
Coevolutionary GP-Based Financial Market", IEEE Transactions on Evolutionary Computation,
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Financial Markets", A. Brabazon, and M. O'Neill (eds.), Natural Computing in Computational
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in Mexico to Address the Issue of Access to the Banking System: Design and Expected
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2008
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Volatility and Its Global Macroeconomic Causes", Review of Financial Studies, Vol. 21(3), pp.
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Manufacturero en México y Estados Unidos", Economía Mexicana Nueva Época, Vol. XVII,
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the United States and Its Connection with Real Exchange Rate Fluctuations (1980-2000)",
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Interactions in the Payment Card Market", IDEAL-07 Proceedings, Lecture Notes in
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I mpl ementatio n o f Co m petitio n P o l i cy i n R e g ul at e d Se ct o r s: The Cas e o f
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Ability to Stand Alone", G. Caprio, D. D. Evanoff, and G. G. Kaufman (eds.), Cross-Border
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