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Journal Article
Mexico's economy continues progress despite debt and inflation problems

Economics Update , Issue Jul , Pages 7, 10

Conference Paper
The domestic politics of Mexican trade policy


Journal Article
Mexico's economic reforms boost chances for a North American trade agreement

Economics Update , Issue Jan , Pages 4, 6

Conference Paper
Environmental protection: a new trade issue


Working Paper
Did the debt crisis or the oil price decline cause Mexico's investment collapse?

This paper proposes a simple investment model that permits a test of the relative importance of Mexico's terms of trade decline, the reversal in net capital inflows, and the debt overhang, in explaining Mexico's investment decline in the early 1980's. The paper uses previously unexploited sectoral investment data between 1981 and 1985 to estimate the quantitative importance of these explanations. The data indicate that the main microeconomic mechanism driving the investment decline was the rise in the relative price of investment goods and further that the deterioration in Mexico's ...
International Finance Discussion Papers , Paper 416

Working Paper
Designing Unemployment Insurance for Developing Countries

The benefits of implementing Unemployment Insurance Savings Accounts (UISAs) are studied in the presence of the multiple sources of information frictions often existing in developing countries. A benchmark incomplete markets economy is calibrated to Mexico in the early 2000s. The unconstrained optimal allocation would imply very large welfare gains relative to the benchmark economy (similar to an increase in consumption of 23% in every period). More importantly, in presence of multiple sources of information frictions, about half of those potential gains can be accrued through the ...
Working Papers , Paper 2018-6

Working Paper
The role of credit in post-stabilization consumption booms

This paper presents an empirical investigation of the role of credit in the post-stabilization consumption booms of Mexico, Chile, and Israel. Credit from the banking sector to the private sector expanded very rapidly following the stabilizations. I show that this increase in credit reduced the proportion of consumers that were liquidity constrained in the economy. This reduction in liquidity constraints could have helped to fuel the observed consumption booms. In addition, I show that the most important channels for the expansion in credit to consumers in Mexico are the rapid remonetization ...
International Finance Discussion Papers , Paper 569

Discussion Paper
Has the Pandemic Reduced U.S. Remittances Going to Latin America?

Workers' remittances—funds that migrants send to their country of birth—are an important source of income for a number of economies in Latin America, with the bulk of these funds coming from the United States. Have these flows dried up, given the COVID-19 recession and resulting unprecedented job losses? We find that remittances initially faltered but rebounded in the summer months, performing better than during the last U.S. recession despite more severe job losses. Large government income support payments probably explain some of this resilience. Whether remittances continue to hold up ...
Liberty Street Economics , Paper 20201109



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Gruben, William C. 12 items

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