Análisis EconómicoPub Date : 2019-05-01DOI: 10.24275/UAM/AZC/DCSH/AE/2019V34N86/ALONSO
Angélica Alonso-Rivera, Salvador Cruz.Aké, Francisco Venegas-Martínez
{"title":"Impact of Monetary Policy on Financial Markets Efficiency under Speculative Bubbles: a Non-Normal and Non-Linear Entropy-based Approach","authors":"Angélica Alonso-Rivera, Salvador Cruz.Aké, Francisco Venegas-Martínez","doi":"10.24275/UAM/AZC/DCSH/AE/2019V34N86/ALONSO","DOIUrl":"https://doi.org/10.24275/UAM/AZC/DCSH/AE/2019V34N86/ALONSO","url":null,"abstract":"This paper examines, through the concept of mutual information based on Shannon’s entropy, the impact of monetary policy on the loss of efficiency in the financial markets due to speculative bubbles. The proposed information measure is useful to quantify the efficiency with which stock markets respond to the implementation of monetary policy. The findings show that an increase in both money supply and credit growth, as well as declining interest rates, lead to strong market inefficiencies during the initial periods of formation of a bubble. Moreover, empirical evidence suggests that when a loose monetary policy (money supply is expanded and is accessible to agents to encourage economic growth) generates inefficiencies, its instruments are not effective to realign the performance of financial markets. JEL Classification: E5, G14, D84, C60.","PeriodicalId":127265,"journal":{"name":"Análisis Económico","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128473316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Análisis EconómicoPub Date : 2019-05-01DOI: 10.24275/UAM/AZC/DCSH/AE/2019V34N86/REBOLLAR
S. Rebollar-Rebollar
{"title":"Efectos de la aplicación de un impuesto en México: caso carne de cerdo","authors":"S. Rebollar-Rebollar","doi":"10.24275/UAM/AZC/DCSH/AE/2019V34N86/REBOLLAR","DOIUrl":"https://doi.org/10.24275/UAM/AZC/DCSH/AE/2019V34N86/REBOLLAR","url":null,"abstract":"","PeriodicalId":127265,"journal":{"name":"Análisis Económico","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130782805","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Análisis EconómicoPub Date : 2019-05-01DOI: 10.24275/UAM/AZC/DCSH/AE/2019V34N86/VARELA
Rogelio Varela Llamas
{"title":"Emprendimiento empresarial, inversión en I+D y marco institucional","authors":"Rogelio Varela Llamas","doi":"10.24275/UAM/AZC/DCSH/AE/2019V34N86/VARELA","DOIUrl":"https://doi.org/10.24275/UAM/AZC/DCSH/AE/2019V34N86/VARELA","url":null,"abstract":"En este documento se analiza el impacto que tiene sobre la creacion de nuevas empresas la inversion privada en I+D y los costos de apertura de empresas como variable proxy del marco institucional. Se integra informacion correspondiente a las 32 entidades federativas de Mexico durante los anos de 2009 y 2014, permitiendo estimar regresiones de corte transversal y con datos fusionados a traves de un metodo de estimacion robusta. Los resultados sugieren que ambas variables son relevantes para explicar las actividades de emprendimiento que derivan en la creacion de empresas, sin embargo, se determina que los costos de apertura tienen un mayor impacto que la inversion en I+D de acuerdo a la magnitud de las elasticidades estimadas. JEL: O3, D2, O12 Abstract This document analyzes the impact it has on the creation of new companies, private investment in R & D and the costs of opening companies as a proxy variable of the institutional framework. Information corresponding to the 32 states of Mexico is integrated during the years of 2009 and 2014, allowing the estimation of crosssection regressions and merged data through a robust estimation method. The results suggest that both variables are relevant to explain the entrepreneurial activities that result in the creation of companies, however, it is determined that opening costs have a greater impact than investment in R & D according to the magnitude of the estimated elasticities. JEL: O3, D2, O12","PeriodicalId":127265,"journal":{"name":"Análisis Económico","volume":"2012 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133493979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Análisis EconómicoPub Date : 2019-05-01DOI: 10.24275/UAM/AZC/DCSH/AE/2019V34N86/CEBALLOS
Owen Eli Ceballos Mina
{"title":"Principios básicos de microeconometría y del uso de variables instrumentales para la inferencia causal","authors":"Owen Eli Ceballos Mina","doi":"10.24275/UAM/AZC/DCSH/AE/2019V34N86/CEBALLOS","DOIUrl":"https://doi.org/10.24275/UAM/AZC/DCSH/AE/2019V34N86/CEBALLOS","url":null,"abstract":"","PeriodicalId":127265,"journal":{"name":"Análisis Económico","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114239231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Análisis EconómicoPub Date : 2019-05-01DOI: 10.24275/UAM/AZC/DCSH/AE/2019V34N86/LLAMAS
Linda Irene Llamas Rembao, L. Reynoso, Luis Gutiérrez Flores
{"title":"Desigualdad y justicia en la remuneración por género en México y la frontera norte","authors":"Linda Irene Llamas Rembao, L. Reynoso, Luis Gutiérrez Flores","doi":"10.24275/UAM/AZC/DCSH/AE/2019V34N86/LLAMAS","DOIUrl":"https://doi.org/10.24275/UAM/AZC/DCSH/AE/2019V34N86/LLAMAS","url":null,"abstract":"Se analizan los salarios y su desigualdad en Mexico, por regiones y grupo de trabajadores. Considerando el enfoque teorico de bienestar social (Cowell, 2011) se indaga en la variacion de la desigualdad salarial en funcion de distintos valores de juicio etico que asignamos en la distribucion. Empleamos un indice novedoso, el Gini-Atkinson que permite introducir distintos parametros de aversion para los indices de Gini y Atkinson respectivamente. El primero con el objetivo de mover una ponderacion a lo largo de la distribucion salarial y el segundo, para asignar los requerimientos de equidad en la funcion de bienestar que presentan los trabajadores. La aplicacion empirica se realiza en asalariados formales (hombres y mujeres) en la frontera norte de Mexico y en el resto del pais. La frontera presenta niveles inferiores en desigualdad y las brechas de genero son menores con respecto del pais, pero con distinta incidencia entre hombres y mujeres. Clasificacion JEL: J31. Abstract We examine inequality on wages in Mexico, by region and gender. Based on social wellbeing theoretical approach (Cowell, 2011), we assign different ethical judgment values to analyze the variation of inequality along the wage distribution. We use a novel index, the Gini-Atkinson, which allows introducing different aversion parameters for both, the Gini and Atkinson indexes. The former, by moving the weighting along the wage distribution and the latter, by introducing an equity principle in the welfare function of wage earners. The empirical application considers only formal wage earners (men and women) in the northern border of Mexico and the rest of the country. Results reveal that the border has lower levels of inequality and gender gaps are smaller with respect to the country as well, but with different incidence between men and women. JEL Codes: J31","PeriodicalId":127265,"journal":{"name":"Análisis Económico","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125584377","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Análisis EconómicoPub Date : 2019-05-01DOI: 10.24275/UAM/AZC/DCSH/AE/2019V34N86/MENDEZ
Alma Berenice Méndez Sáenz, M. R. García, Klender Aimer Cortez Alejandro
{"title":"Factores Determinantes de la Responsabilidad Social Empresarial (RSE). Caso aplicado a México y Brasil","authors":"Alma Berenice Méndez Sáenz, M. R. García, Klender Aimer Cortez Alejandro","doi":"10.24275/UAM/AZC/DCSH/AE/2019V34N86/MENDEZ","DOIUrl":"https://doi.org/10.24275/UAM/AZC/DCSH/AE/2019V34N86/MENDEZ","url":null,"abstract":"","PeriodicalId":127265,"journal":{"name":"Análisis Económico","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131549901","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"El juego de la vida: una interpretación basada en el contagio de la euforia durante la formación de burbujas especulativas","authors":"Elsy Lizbeth Gómez Ramos, Héctor Adrián Guerrero Martínez","doi":"10.24275/UAM/AZC/DCSH/AE/2019V34N86/GOMEZ","DOIUrl":"https://doi.org/10.24275/UAM/AZC/DCSH/AE/2019V34N86/GOMEZ","url":null,"abstract":"Experimental studies have shown evidence that the dynamics in the stock markets generate that some agents encourage high expectations about an asset, as it is understood that it happens in a speculative bubble. Therefore, modeling the contagion of euphoria (expectations) can help to identify behavioral scenarios in a complex environment. The purpose of this research is to perform computer simulations using cellular automata (ACs) to emulate the contagion of euphoria during the formation of a speculative bubble. Specifically, The Game of Life by Conway is proposed as an example to simulate complex dynamics where the displacement of individuals is an essential element. The conclusions indicate that under this proposal only a few investors and a strategic location are required to infect a significant number of market participants.","PeriodicalId":127265,"journal":{"name":"Análisis Económico","volume":"94 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115523975","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Análisis EconómicoPub Date : 2019-05-01DOI: 10.24275/UAM/AZC/DCSH/AE/2019V34N86/MENDOZA
M. Ramos, Eliseo Díaz González
{"title":"Análisis de la productividad total de factores en la industria de alta tecnología en México, 2003-2013","authors":"M. Ramos, Eliseo Díaz González","doi":"10.24275/UAM/AZC/DCSH/AE/2019V34N86/MENDOZA","DOIUrl":"https://doi.org/10.24275/UAM/AZC/DCSH/AE/2019V34N86/MENDOZA","url":null,"abstract":"El objetivo de la presente investigacion es determinar la contribucion de los factores de produccion al desarrollo de la industria manufacturera de alta tecnologia en Mexico para el periodo 2003-2013. La aproximacion metodologica esta enfocada en el calculo de una funcion de produccion Translog, la cual evalua la productividad de cada factor y la productividad conjunta, ademas de obtener resultados a nivel de ano censal, estatal y por rama economica. Los principales hallazgos de la investigacion indican que la productividad por progreso tecnologico muestra un proceso acelerado, debido al crecimiento de la industria y la ampliacion de su presencia en el pais, siendo el factor trabajo el principal determinante. Clasificacion JEL: O Desarrollo economico, innovacion, cambio tecnologico y crecimiento, O4 crecimiento Economico y Productividad Agregada; O47 Estudios Empiricos sobre Crecimiento Economico, Productividad agregada, convergencia de la produccion entre paises. Abstract The aim of the present investigation is determining the productive component that contributes most to the growth and development of the Total Factor Productivity of the High Technology Manufacturing Industry in Mexico during the 2003-2013 period. The methodological approach is focused on the calculation of a Translog production function, which allows to evaluate the productivity of each factor and the joint production productivity, in addition to the results obtained on the Total Factor Productivity for the industry at the census, state and economic branch level. The main findings of the research indicate that the productivity by technological progress in the high-tech manufacturing industries shows an accelerated process due to the growth of the industry and greater presence in the country, with labor being the main determinant. JEL Classification: O; O4; O47","PeriodicalId":127265,"journal":{"name":"Análisis Económico","volume":"196 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116678041","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Análisis EconómicoPub Date : 2019-05-01DOI: 10.24275/UAM/AZC/DCSH/AE/2019V34N86/ANDERE
Jorge L. Andere, Jorge Luis Canché Escamilla
{"title":"Entendiendo el consenso en la profesión económica en México","authors":"Jorge L. Andere, Jorge Luis Canché Escamilla","doi":"10.24275/UAM/AZC/DCSH/AE/2019V34N86/ANDERE","DOIUrl":"https://doi.org/10.24275/UAM/AZC/DCSH/AE/2019V34N86/ANDERE","url":null,"abstract":"En este trabajo se explora el consenso en grupos de una poblacion definida de academicos de la Ciencia Economica en Mexico, en proposiciones sobre opiniones economicas, aspectos cientificos de la Economia y supuestos economicos. Se aplicaron procedimientos para determinar el consenso al interior y entre grupos, cuyos resultados indican que los encuestados que consideran que los economistas concuerdan en los asuntos fundamentales, tienden a exhibir mayores grados de consenso y ser mas favorables a una economia abierta y a la Economia Neoclasica, que aquellos que no creen en la existencia de dicho acuerdo. Los integrantes de ambos grupos apoyan politicas gubernamentales de intervencion en la economia, pero de tipo diferente. JEL: A11, A14, A20 Abstract In this paper, we explore consensus on economic opinions, economics’ scientific aspects, and economics assumptions, in groups of a well-defined population of economics academiccommunity in Mexico. We apply procedures to determine consensus within and between groups. Outcomes indicate that surveyed individuals which consider economists agree on fundamental issues tend to exhibit both higher degrees of consensus as more favorable views towards open economy and neoclassical economics, than those which do not consider economists agree on fundamental issues. Members of both groups support state interventions in the economy, but of a different kind. JEL: A11, A14, A20","PeriodicalId":127265,"journal":{"name":"Análisis Económico","volume":"228 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134544962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Análisis EconómicoPub Date : 2019-05-01DOI: 10.24275/UAM/AZC/DCSH/AE/2019V34N86/MARTINEZ
Karla Alejandra Martínez-Licerio, Juan Marroquín-Arreola, Humberto Ríos-Bolívar
{"title":"Precarización laboral y pobreza en Méxicov","authors":"Karla Alejandra Martínez-Licerio, Juan Marroquín-Arreola, Humberto Ríos-Bolívar","doi":"10.24275/UAM/AZC/DCSH/AE/2019V34N86/MARTINEZ","DOIUrl":"https://doi.org/10.24275/UAM/AZC/DCSH/AE/2019V34N86/MARTINEZ","url":null,"abstract":"","PeriodicalId":127265,"journal":{"name":"Análisis Económico","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126797859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}