In this paper an analytical framework using robust control was developed for the one-state and one-control variable model to examine the response of the control to changes in the "free" parameter. However, in contrast to Gonzalez and Rodriguez (2003), the sign of the ``free" parameter in the...

In a one-state one-control variable Quadratic Linear Problem, I examine the effect of an increase in the multiplicative uncertainty on the use of the control variable. In contrast with previous studies, this model considers a stochastic constant term in the transition equation. I found that the...

In this essay, it is shown that in the Hoel and Karp (2001) model of global warming, the optimal response of taxes for a stock pollutant with mutiplicative uncertainty is opposite when the control variable is pollution taxes instead of emissions. In this case, the election of control variable...

This paper uses a multinomial logit model to examine the factors associated with the occurrence of both self-fulfilling and fundamental banking crises. We find evidence indicating that the two types of crises are indeed different, and are explained by different variables. Self-fulfilling crises...

We investigate the relationship between mortality and business cycles within Mexico, where development varies significantly. We exploit this variation by separately analyzing the top ten and bottom ten developed states. We find that while mortality is procyclical nationally and in the top ten...

Few studies estimate housing demand for developing countries. We contribute to the literature by estimating housing demand in Mexico, and analysing its main determinants. An advantage of this study is the use of market-based data of actual housing transactions. Our results show a strong positive...