This paper models the housing sector, mortgages and endogenous default in a DSGE setting with nominal and real rigidities. We use data for the period 1981-2006 to estimate our model using Bayesian techniques. We analyze how an increase in risk in the mortgage market raises the default rate and...

This document presents an alternative to measure informal economic activity at the municipal level for the 2013-2020 period in Mexico. Using satellite images of nightlight and microdata from the 2019 Economic Census, the formal and informal Value Added at the municipal level is estimated using a...

This paper evaluates the influence of central bank's projections and narrative signals provided in the summaries of its Inflation Report on the expectations of professional forecasters for inflation and GDP growth in the case of Mexico. We use the Latent Dirichlet Allocation model, a textmining...

In stratified sampling there are designs with one unit selected per stratum or when one is willing to make estimations on unplanned domains with one unit in some strata. In these cases the variance is generally estimated by the collapsed strata method, which requires identification of the strata...

In probability sampling, variance estimation of an estimated mean or total requires developing a mathematical expression that depends on the design used to extract a sample. These formulae can be difficult to build and sometimes involve computation of joint inclusion probabilities of selection,...

We analyze forecasts of inflation and GDP growth contained in Banco de México's Survey of Professional Forecasters for the period 1995-2009. The forecasts are for the current and the following year, comprising an unbalanced three-dimensional panel with multiple individual forecasters, target...

In the estimation of proportions using simple random sampling, the maximum value of the variance can be used to compute the sample size when there is no information of the variable of interest. We extend this result to the estimation of proportions under two-stage cluster sampling with equal...