This research conducts a review of theoretical and practical developments of Markov processes in the specialized literature, highlighting their recent advances and showing their potential for their technical goodness, in modeling the decision making processes of rational agents adding more...

In this paper the methodology of real options is presented as an imperative tool for the board of directors of a firm for the decision making process on the financial assessment of projects or business strategies when there is flexibility (optionality) of making, in the future, new decisions...

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...

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...

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...

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...

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...

The Hurst coefficient and the alpha-stable parameter are useful indicators in the analysis of time series to detect normality and absence of self-similarity. In particular, when these two features met simultaneously, it is said that the series is driven by white noise. This paper is aimed at...

Spanish Abstract: Este trabajo de investigación se concentra en el análisis de eventos de riesgo operacional, es decir, eventos que conducen a pérdidas económicas por fallas en los sistemas administrativos y en los procedimientos internos, así como por errores humanos, intencionales o no....

This research is aimed at examining the impact of tax reform on economic welfare in an environment of uncertainty in a small open economy with a regime of flexible exchange rate. It is assumed that the economy is populated by identical rational risk-averse individuals. Unlike the typical...