During the last years, Mexico has registered relatively large output falls. The business cycle accounting method of Chari, Kehoe and McGrattan (2007) is applied to the two most recent recessions in Mexico (including the 'Tequila crisis') in order to understand what are the most important wedges...

"Econometric study of the impact of liberalization on total factor productivity and Costa Rican competitiveness in international trade. Attributes slow lowering of tariffs to fiscal rigidity and the need to sustain debt payments while following anti-inflationary policies. Advocates more...