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Journal Article
Reforma Energética: Mexico takes first steps to overhaul oil industry
The fiscal health of the Mexican government and the living standards of Mexico?s citizens are inextricably tied to that of Pemex, making declining crude oil production over the past decade a particularly troubling sign for many in Mexico.
Report
Nonlinear pricing with competition: the market for settling payments
The multiple payments settlement systems available in the United States differ on several dimensions. The Fedwire Funds Service, a utility that operates a U.S. large-value payments-settlement service, offers the fastest speed of settlement. Recognizing that payments differ in the urgency with which they need to be settled, Fedwire offers banks a decreasing block-price schedule. This approach allows Fedwire to price discriminate, charging high fees for urgent payments and low fees for less urgent ones. We analyze banks? demand for Fedwire Funds given this nonlinear scheme, taking into account ...