Working Papers

From Centro de Investigacion Economica, ITAM
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0203: Using Signal Processing Tools for Regulation Analysis and Implementation

Alejandro Reynoso

0202: Are Labor Markets Segmented in Argentina? A Semiparametric Approach

Sangeeta Pratap and Erwan Quintin

0201: Functional Sunspot Equilibria

Shurojit Chatterji and Subir Chattopadhyay

0105: Firm-Wide Versus Establishment-Specific Labor-Market Practices

David Kaplan and Brooks Pierce

0104: Financial Market Discipline in Early 20th Century Mexico

Elisabeth Huybens, Astrid Luce and Sangeeta Pratap

0103: Do Adjustment Costs Explain Investment-Cash Flow Insensitivity?

Sangeeta Pratap

0102: Size Corrected Power for Bootstrap Tests

Manuel Dominguez and Ignacio Lobato

0101: A Consistent Test for the Martingale Difference Hypothesis

Manuel Dominguez and Ignacio Lobato

0005: Convergence Results for Unanimous Voting

Cesar Martinelli

0004: Simple Plurality versus Plurality Runoff with Privately Informed Voters

Cesar Martinelli

0003: Policy Reversals and Electoral Competition with Privately Informed Parties

Cesar Martinelli and Akihiko Matsui

0002: Liquidity Crises and Discount Window Lending: Theory and Implications for the Dollarization Debate

Gaetano Antinolfi and Todd Keister

0001: Monetary Stability and Liquidity Crises: The Role of the Lender of Last Resort

Gaetano Antinolfi, Elisabeth Huybens and Todd Keister

9905: Policy Reversals: Electoral Competition with Privately Informed Parties

Cesar Martinelli and Akihiko Matsui

9904: A Bayesian Model of Voting in Juries

John Duggan and Cesar Martinelli

9903: Asymmetric shocks among U.S. states

Marco Del Negro

9902: Financial Market Imperfections, Real Exchange Rates, and Capital Flows

Caroline Betts and Elisabeth Huybens

9901: Equilibrium Indeterminacy in an Endogenous Growth Model: Debt as a Coordination Device

Salvador Ortigueira

9805: Evolution and Information in a Prisoner's Dilemma Game

Phillip Johnson, David Levine and Wolfgang Pesendorfer

9804: Numerical Solution of Dynamic Economic Models

Manuel Santos

9803: Robustness in Contracts: Inferring Strategies from Past Play

Tridib Sharma

9802: On Aggregate Precautionary Saving: When is the Third Derivative Irrelevant?

Mark Huggett and Sandra Ospina

9801: On the Distributional Effects of Social Security Reform

Mark Huggett and Gustavo Ventura

9710: Exchange Rate Intervention with Options

Fernando Zapatero and Luis F. Reverter

9709: What to Stabilize in the Open Economy?: Some Notes on a Problem of Keynes

Valerie Bencivenga, Elisabeth Huybens and Bruce Smith

9708: Monetary Exchange as a Social Convention: Emergence and Stability of an Intermediating Commodity

Phillip Johnson

9707: Inflation, Financial Markets and Long-Run Real Activity

Elisabeth Huybens and Bruce Smith

9706: Joint Ventures and Stock Markets as Commitment Devices

Tridib Sahrma

9705: A Dynamic Analysis of an Endogenous Growth Model with Leisure

Salvador Ortigueira

9704: Variable Capital Utilization in a General Equilibrium, "Supply Side" Model

Leonardo Auernheimer and Beatriz Rumbos

9703: The Role of Institutional Investors in International Trading: an Explanation of the Home Bias Puzzle

Juan-Pedro Gómez and Fernando Zapatero

9702: Money, Real Exchange Rates, and Capital Accumulation in a Small Open Economy with Financial Market Frictions

Gaetano Antinolfi and Elisabeth Huybens

9701: Understanding Why High Income Households Save More Than Low Income Households

Mark Huggett and Gustavo Ventura

9610: On the Recoverability of Preferences and Beliefs in Financial Models

Domenico Cuoco and Fernando Zapatero

9609: Fiscal Policy in an Endogenous Growth Model with Human Capital Accumulation

Salvador Ortigueira

9608: Financial Market Frictions, Monetary Policy and Capital Accumulation in a Small Open Economy

Elisabeth Huybens and Bruce Smith

9606: The Economics of Poverty Traps Part One: Complete Markets

Costas Azariadis

9605: Exchange Rate Determination and the Collapse of a Target Zone with Stochastic Capital Flows

Alejandro Hernandez D. and Fernando Zapatero

9604: Capital Accumulation and Real Exchange Rate Behavior in a Small Open Economy with Credit Market Frictions

Gaetano Antinolfi and Elisabeth Huybens

9603: Unstable and Stable Steady-States in the Kiyotaki-Wright Model

Juan M. Renero

9602: Accuracy Estimates for a Numerical Approach to Stochastic Growth Models

Manuel Santos and Jesus Vigo

9601: International Trade in Middle Products and the Transfer Problem

Hugo Mena

9507: Linear Combination of Information in Time Series Analysis

Victor M. Guerrero and Daniel Peña

9506: Why is Wage Dispersion Growing in Mexico? Is it the Incidence of Reforms or the Growing Demands for Skills

Michael Ian Cragg and Mario Epelbaum

9505: The Premium for Skills in LDCs: Evidence from Mexico

Michael Ian Cragg and Mario Epelbaum

9504: Error Bounds for a Numerical Solution for Dynamic Economic Models

Manuel Santos and Jesus Vigo

9503: A Two-Sector Model of Endogenous Growth with Leisure

Antonio Ladron de Guevara, Salvador Ortigueira and Manuel Santos

9502: Welfare of Alternative Equilibrium Paths in the Kiyotaki-Wright Model

Juan M. Romero

9501: Monetary, Fiscal, and Bank Regulatory Policy in a Simple Monetary Growth Model

Joydeep Bhattacharya, Mark Guzman, Elisabeth Huybens and Bruce Smith

9411: Gresham's Law Type Equilibria in the Kiyotaki-Wright Models

Juan M. Renero

9410: On the Role of Computation in Economic Theory

Jerry L. Bona and Manuel Santos

9409: On Convergence in Endogenous Growth Models

Salvador Ortigueira and Manuel Santos

9408: The Replacement Problem

Thomas Cooley, Jeremy Greenwood and Mehmet Yorukoglu

9407: Competitive Equilibria for Infinite-Horizon Economies with Incomplete Markets

Alejandro Hernandez and Manuel Santos

9406: Surplus Maximization and Price Discrimination in General Equilibrium: Part II

Aaron Edlin and M. Epelbaum

9405: Surplus Maximization and Price Discrimination in General Equilibrium: Part I

Aaron Edlin, M. Epelbaum and W. Heller

9404: General Equilibrium with Constant Relative Risk Aversion and Vasicek Interest Rates

R. Goldstein and F. Zapatero

9403: Equilibrium Dynamics in Two-Sector Models of Endogenous Growth

Antonio Ladron de Guevara, Salvador Ortigueira and Manuel Santos

9402: On Expenditure Functions

E. Martinez Legaz and Manuel Santos

9401: Effects of Financial Innovations on Market Volatility when Beliefs are Heterogeneous

F. Zapatero

9306: The Demand for Money in an Unstable Economy: A Cointegration Approach for the Case of Mexico

Manuel Ramos-Francia

9305: Menu Competition: The Case of Nonlinear Pricing

Mario Epelbaum

9304: Rational Asset Pricing Bubbles

Manuel Santos and Michael Woodford

9303: Rivalrous Benefit Taxation: The Independent Viability of Separate Agencies or Firms

Aaron Edlin and Mario Epelbaum

9302: Smooth Dynamics and Computation in Models of Economic Growth

Manuel Santos

9301: Public Education and Capital Accumulation

Michele Boldrin