The purpose of this study is to gauge the performance of unilateral target zones arrangements in two Latin American countries, Mexico and Chile. In doing so we look at the institutional and historical evolution of these exchange rate regimes. We then deal with performance in a more formal...

In this article the scope and limitations of inflation reduction strategies based on nominal exchange rate policies are modelled theoretically. These strategies are derived from the solution of several types of dynamical games between the government and the private sector of the economy.

The objetive of this short paper is to derive the optimal rate of depletion of a non-renewable natural resource by a monopolist under uncentainty conditions on the evolution of the reserve stock of that natural resource.

This paper derives and evaluates the observable implications of the new view of the current account of the balance of payments in Mexico, during the period 1950-1991. According to this view, the current account is a result of the optimal decisions towards saving and investing from economic...

The objectives of this paper are: To derive the restrictions that the "sustainability" of the public debt -defined as the expectation of an intertemporal balanced public budget- impose on the observed behavior of the time series of the public debt and deficit, and to contrast these restrictions...

Los economistas del Banco Interamericano de Desarrollo (BID) nos ofrecen en su informe del año de 1995 –Progreso económico y social en América Latina– un interesante y exhaustivo análisis de la relación entre el crecimiento económico y su volatilidad en la región latinoamericana. En...

Los años noventa son testigos de importantes cambios estructurales en la economía mexicana. El gobierno y el sector privado redefinen su papel en la economía y cambian radicalmente las reglas del juego económico. El gobierno abandona años de intervención en los mecanismos de asignación de...

El objetivo de este ensayo es determinar, mediante un enfoque de multimercados, el efecto de la política de control de precios de México en la dispersión de los precios relativos. El modelo de multimercado, originalmente desarrollado por Lucas (1972, 1973) y Barro (1976), combina las...