BOLETÍN BIBLIOGRÁFICO DE NUEVAS ADQUISICIONES

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1 BIBLIOTECA DEL BANCO DE MÉXICO ENERO 2012 BOLETÍN BIBLIOGRÁFICO DE NUEVAS ADQUISICIONES MARICHAL, Carlos. La política monetaria en México, : notas históricas / Carlos Marichal. -- [s. l. : s. n.], Clasificación: M333 El presente estudio ofrece un panorama histórico de la política monetaria en México entre 1900 y 1940 a partir de la literatura existente así como del análisis de estadísticas históricas. Esta monografía intenta facilitar la disponibilidad de estadísticas de interés para los estudiosos del sistema monetario en México de la primera mitad del siglo XX a través de la recopilación de estadísticas históricas claves para reconstruir el devenir de la política monetaria del periodo. ANAYA MERCHANT, Luis. Historia de la regulación bancaria a través de las Circulares-Telefax emitidas por el Banco de México, / Luis Anaya Merchant. -- [s. l. : s. n.], Clasificación: A536 La literatura que se ocupa de la evolución de la banca mexicana señala a las dos últimas décadas del siglo XX como especialmente intensas en el ritmo del cambio institucional. No hay duda que ello es cierto, sin embargo con ese aserto se tienden a hacer a un lado la importancia de los cambios y de los problemas que ocurrían en la industria durante los años 70's. Como autoridad principal del ramo, Banco de México (en adelante, Banxico) guiaba esos procesos de cambio que serían interrumpidos abruptamente por la decisión política que implicó la nacionalización bancaria de Con la Nacionalización concluyó un largo periodo de estabilidad y crecimiento moderado para la banca mexicana e inició un ciclo de cambios vertiginosos y discontinuos. México entraría a un ciclo de crisis y políticas de ajuste recurrentes que se extendería durante más de dos décadas. Simultáneamente, Banxico fue "actor" y "paciente" de esos cambios. A lo largo de ese agitado ambiente histórico de crisis y remansos conoció la influencia combinada de factores externos y fallas estructurales de la economía; de estos resultaría un concentrado de desafíos de carácter institucional, tecnológico, legal, político, económico, monetario, comercial, de seguridad nacional, financiero, etc., al que debía responder y que sin duda modificó su perfil institucional. En distinta medida, tendremos oportunidad de abordar en esta 1

2 comunicación los cambios de perfil institucional de Banxico. Para llevar adelante esta tarea nos apoyaremos centralmente en las disposiciones regulatorias emitidas por la principal autoridad bancaria. Esperamos que el trabajo pueda reflejar la todavía insuficientemente explotada riqueza informativa que ofrece esta fuente de información. SINGLETON, John. Central banking in the twentieth century / John Singleton. -- Cambridge, United Kingdom: Cambridge University, Clasificación: S617 Central banks are powerful but poorly understood organizations. In 1900 the Bank of Japan was the only central bank to exist outside Europe, but over the past century central banking has proliferated. John Singleton here explains how central banks and the profession of central banking have evolved and spread across the globe during this period. He shows that the central banking world has experienced two revolutions in thinking and practice, the first after the depression of the early 1930s, and the second in response to the high inflation of the 1970s and 1980s. In addition, the central banking profession has changed radically. In 1900 the professional central banker was a specialized type of banker, whereas today he or she must also be a sophisticated economist and a public official. Understanding these changes is essential to explaining the role of central banks during the recent global financial crisis. Federalism and economic reform : international perspectives / edited by Jessica S. Wallack, T. N. Srinivasan. -- New York : Cambridge University, Clasificación: F293 This 2006 collection focuses on the ways in which federalism has affected and been affected by economic reform, especially global integration. The editors and contributors focus in particular on the political economy of institutional and economic change - how the division of authority between national and subnational governments shapes debates over policy changes, as well as how the changing economic environment creates incentives to modify the basic agreements between levels of governments. Each chapter contains a historical overview, and an in-depth account of division of authority, lines of accountability, and legislative, bureaucratic, and other arenas in which the levels of government interact for a particular country. The analyses are based on reform (or non-reform) episodes for each country - most from recent history, but some spanning the century. As a collection, the country studies span a range of developing and industrial countries with varying political systems. 2

3 WHITESELL, William C. Climate policy foundations : science and economics with lessons from monetary regulation / William C. Whitesell. -- Cambridge, United Kingdom : Cambridge University, Clasificación: W594 This book provides a thorough grounding in the science and economics of climate policy issues and draws key lessons from the longer experiences of central banks in grappling with related challenges. Findings and controversies of climate history and the effects of human activities on climate are reviewed. The author describes similarities in risk management approaches for climate and monetary policy. Overall goals and frameworks for addressing climate change risks are assessed. Command-and-control and market-based options are compared (including performance standards, taxes, and cap-and-trade). Market-based approaches sometimes require a choice between prices and quantities as policy instruments. However, the author discusses how techniques of central bank interest rate management can be adapted in a hybrid climate policy approach to achieve environmental goals while making carbon prices predictable and also ensuring well-functioning carbon markets. Key lessons are offered for improving existing and future national and international climate policy architectures. BURFISHER, Mary E. Introduction to computable general equilibrium models / Mary E. Burfisher. -- New York : Cambridge University, Clasificación: F622 In The Minimum Wage and Labor Market Outcomes, Christopher Flinn argues that in assessing the effects of the minimum wage (in the United States and elsewhere), a behavioral framework is invaluable for guiding empirical work and the interpretation of results. Flinn develops a job search and wage bargaining model that is capable of generating labor market outcomes consistent with observed wage and unemployment duration distributions, and also can account for observed changes in employment rates and wages after a minimum wage change. Flinn uses previous studies from the minimum wage literature to demonstrate how his model can be used to rationalize and synthesize the diverse results found in widely varying institutional contexts. He also shows how observed wage distributions from before and after a minimum wage change can be used to determine if the change was welfare-improving. More ambitiously, and perhaps controversially, Flinn proposes the construction and formal estimation of the model using commonly available data; model estimates then enable the researcher to determine directly the welfare effects of observed minimum wage changes. This model can be used to conduct counterfactual policy experiments, even to determine "optimal" minimum wages under a variety of welfare metrics. The development of the model and the econometric theory underlying its estimation are carefully presented so as to enable readers unfamiliar with the econometrics of point process models and dynamic optimization in continuous time to follow the arguments. Although most of the book focuses on the case where only the unemployed search for jobs in a homogeneous labor market environment, later 3

4 chapters introduce on-the-job search into the model, and explore its implications for minimum wage policy. The book also contains a Chapter describing how individual heterogeneity can be introduced into the search, matching, and bargaining framework. The varieties of pension governance: pension privatization in Europe / edited by Bernhard Ebbinghaus. -- Oxford, United Kingdom : Oxford University, Clasificación: V299 The ongoing privatization of pensions--the shift from state to private responsibility for old age retirement income--raises fundamental issues of social and participatory rights. The recent financial market crisis makes the problematic nature of funded private pensions that fall short of expected returns dramatically clear. What have been the experiences in developed multipillar systems? What can be learned for those pensions systems currently under reform? This edited book compares the varieties of pension governance in ten European countries. Contrasting the experience of developed multipillar systems such as Britain, Denmark, the Netherlands, and Switzerland with the recent shift toward private occupational and personal pensions in Belgium, France, Finland, Germany, Italy, and Sweden. The country chapters investigate how and why old age income responsibilities are being shifted to employers, unions, and individuals. They describe the changing public and private pension mix, and the particular features of the private occupational and personal pensions. In particular The Varieties of Pension Governance discusses four major questions: who is covered, what kind of benefits, who pays, and who governs? Three comparative analyses provide an additional value, describing the long-term institutional change from public to multipillar pension systems, the variations in regulation and governance of private pensions, and the consequences for income inequality in old age. This book combines the benefits of a reference work--ten up-to-date country studies of major pension systems in Europe--with three cross-national comparative empirical analyses that provide comprehensive information on important aspects of the reform development, societal governance, and social outcomes of pension systems. Central bank reserves and sovereign wealth management / edited by Arjan B. Berkelaar, Joachim Coche and Ken Nyholm. -- Basingstoke, United Kingdom: Palgrave Macmillan, Clasificación: C397 This edited volume comprises some of the papers (those on the themes of reserves management and sovereign wealth fund management) which were presented at the November 2008 conference on Strategic Asset Allocation for Central Banks and Sovereign Wealth Managers, held jointly by the Bank for International Settlements, the European Central Bank and the World Bank. The contributions herein present state-of-the-art techniques for the implementation of strategic asset allocation approaches in public organizations. They are, however, not only limited to the traditional central banking world but have a 4

5 much greater coverage and reach, exemplified by the contributions from leading institutions in the financial sector. Collectively, these papers present a first attempt to formulate an industry standard for methods and techniques relevant for public investors working in the areas of reserves management and asset modelling. Concrete and directly useful, this book belongs on the shelf of every financial analyst and modeller working in the public wealth-management arena. DI MAURO, Filippo. Catching the flu from the United States: synchronisation and transmission mechanisms to the Euro area / Filippo di Mauro, Stephane Dees and Marco J. Lombardi. -- Basingstoke, United Kingdom: Palgrave Macmillan, Clasificación: D536 The United States, considered to be the "engine" of the world economy, has been a puzzle for numerous economists. How can it be that an economy, which represents only less than a fourth of world GDP, could still have such a role, particularly when large and fast growing economic players, like China, are potently emerging in the global economy? This book explores the economic linkages between the US and the Euro area, providing an understanding on how and to what extent economic developments in the United States transmit to the Euro area. The issue is examined from different perspectives and using different methodologies. The chapters of the book bring together up-to-date research and stylized facts on the various channels of shock transmission, with a special emphasis on financial and trade linkages. This book is essential reading for all interested in International Economics and Business Cycle Analysis. Structural econometrics: essays in methodology and applications in memory of Sanghamitra Das / edited by Bhaskar Dutta. -- New Dehli, India: Oxford University, Clasificación: S927 Useful reference for post graduate econometric course Case studies from India, US, Colombia This volume highlights the use of structural methods by applying them to a large number of widely different contexts. The essays draw on data from several countries such as Colombia, India, and the US and develop empirical models that are applied to a wide range of policy issues. Some of these issues relate to the infant computer industry in India in the 1980s, the cement industry in the US, factors underlying the ownership of blast furnaces in India in the 1990s, entry decisions of producers in export markets, and even a down-to-earth issue such as the behavior of pedestrians attempting to cross a stream of traffic at signalized intersections. 5

6 GOULD, W. T. S. Population and development / W.T.S. Gould. -- London, England: Routledge, Clasificación: G696 Population and Development addresses important issues at the heart of the problems of developing countries. How these countries address the common difficulties of population growth, including mortality and fertility decline, population redistribution including internal migration and urbanization, and also international migration, for both source countries and for destination countries. How and why has population change affected development both positively and negatively? How and why has development affected population change both growth and distribution? The book opens with an introduction, preceding the ten substantive chapters, covering some of the broader issues for population studies and development studies and the relationships between them. The first three chapters set out the main concepts and theoretical discussions on how population affects development and also how development affects population. Detailed chapters then cover each of the three main components of population change fertility, mortality and finally migration. These are followed by chapters on the impacts of age structures, including the potential for a demographic dividend, and of the more qualitative aspects of human resource development through formal education and ICTs, with further chapters on population policies and population futures. The book incorporates illustrative text boxes and case studies on regions in Africa, the Middle East and Asia which elaborate the broader theoretical and conceptual substance of the ten major chapters. Each chapter has Discussion Questions and Sources and Further Reading sections, and there is an extensive integrated References section. The arguments of the book bring together a large but fairly loosely integrated literature from population studies, development studies and geography in a conceptually coordinated, empirically wide-ranging and challenging discussion. Global migration governance / edited by Alexander Betts. -- Oxford, United Kingdom : Oxford University, Clasificación: G562 Unlike many other trans-boundary policy areas, international migration lacks coherent global governance. There is no UN migration organization and states have signed relatively few multilateral treaties on migration. Instead sovereign states generally decide their own immigration policies. However, given the growing politicization of migration and the recognition that states cannot always address migration in isolation from one another, a debate has emerged about what type of international institutions and cooperation are required to meet the challenges of international migration. Until now, though, that emerging debate on global migration governance has lacked a clear analytical understanding of what global migration governance actually is, the politics underlying it, and the basis on which we can make claims about what 'better' migration governance might look like. In order to address this gap, Global Migration Governance brings together a group of the world's leading experts to consider the global governance of different aspects of migration. The chapters offer an accessible introduction to the global governance of low-skilled labor migration, high-skilled labor migration, irregular migration, lifestyle migration, international travel, refugees, internally 6

7 displaced persons, human trafficking and smuggling, diaspora, remittances, and root causes. Each of the chapters explores the three same broad questions: What, institutionally, is the global governance of migration in that area? Why, politically, does that type of governance exist? How, normatively, can we ground claims about the type of global governance that should exist in that area? Collectively, the chapters enhance our understanding of the international politics of migration and set out a vision for international cooperation on migration. JOHNSTONE, Donald Bruce. Financing higher education worldwide: who pays? who should pay? / D. Bruce Johnstone and Pamela N. Marcucci. -- Baltimore, Maryland : Johns Hopkins University, Clasificación: J73 No issue in higher education is as salient, or as controversial, as finance. As demand for higher education around the world grows, so do the costs associated with it, especially as governments shoulder less of the burden. Tuition fees rise and student loan debt grows. Who pays for these surging costs? Who should pay? Johnstone and Marcucci examine the universal phenomenon of cost-sharing in higher education where financial responsibility shifts from governments and taxpayers to students and families. They find that growing costs for education far outpace public revenue streams that once supported it. Even with financial aid and scholarships defraying some of these costs, students are responsible for a greater share of the cost of higher education. Featuring comprehensive economic and policy data, the authors' international comparative approach shows how economically diverse countries all face similar cost-sharing challenges. So, who should pay for higher education? While cost-sharing is both politically and ideologically debated, Johnstone and Marcucci contend that, for almost all countries, it is imperative for the financial health of colleges and universities, bringing better efficiency, equity, and responsiveness. Financing Higher Education Worldwide combines sophisticated economic explanations with sensitive political and cultural analyses of the financial pressures facing higher education throughout the world. Labor markets and economic development / edited by Ravi Kanbur and Jan Svejnar. -- London, England : Routledge, Clasificación: L1235 As developing and transition economies enter the next phase of reforms, labor market issues increasingly come to the fore. With the increased competition from globalization, the discussion is shifting to the need for greater labor market flexibility and the creation of good jobs. Moreover, the greater actual and perceived insecurity in labor markets has generated a new agenda on how to structure safety nets and labor market regulation. The older questions of the links between the formal and informal labor market, reappear with new dimensions and significance. More generally, it is clear that an accurate understanding of how labor market structures function is essential if we are to analyze alternative 7

8 policy proposals in the wake of these concerns. Oddly enough, in spite of this great importance, there are no recent monographs that bring together rigorous studies produced by academic researchers on these various issues. This book fills that gap. Under the steely editorship of Ravi Kanbur and Jan Svejnar, the contributors flourish in their attempts to enliven these debates. The economics of new health technologies: incentives, organization, and financing / edited by Joan Costa-Font, Christophe Courbage, Alistair McGuire. -- Oxford, United Kingdom: Oxford University, Clasificación: E19 Technological change in healthcare has led to huge improvements in health services and the health status of populations. It is also pinpointed as the main driver of healthcare expenditure. Although offering remarkable benefits, changes in technology are not free and often entail significant financial, as well as physical or social risks. These need to be balanced out in the setting of government regulations, insurance contracts, and individuals' decisions to use and consume certain technologies. With this in mind, this book addresses the following important objectives: to provide a detailed analysis of what technological change is; to identify drivers of innovation in several healthcare areas; to present existing mechanisms and processes for ensuring and valuing efficiency and development in the use of medical technologies; and to analyze the impact of advances in medical technology on health, healthcare expenditure, and health insurance. Each of the seventeen chapters summarizes an important issue concerning the innovation debate and contributes to a better understanding of the role innovation has both at the macro level and at the delivery and micro level in the healthcare sector. The effectiveness of innovation in improving people's welfare depends on its diffusion and inception by the relevant agents in the health production process, and this book recognizes the multi-faceted contribution of policy makers, regulators, managers, technicians, consumers and patients to this technology change. This book offers the first truly global economic analysis of healthcare technologies, taking the subject beyond simply economic evaluation, and exploring the behavioral aspects, organization and incentives for new technology developments, and the adoption and diffusion of these technologies. Antitrust and regulation in the EU and US: legal and economic perspectives / edited by François Lévêque and Howard Shelanski. -- Cheltenham, United Kingdom : Edward Elgar, Clasificación: A633 Innovatively combining legal and economic views, Antitrust and Regulation in the EU and US will be of great interest to scholars of competition law, international law firms, and competition authorities and sector-specific regulation authorities (federal and state). Antitrust laws in theory affect all business, but regulation is specific to a particular sector, such as communication or health care. The questions under discussion here are the extent to which sector-specific regulation is still 8

9 warranted in light of monopoly power eroding, and whether antitrust law in a given jurisdiction is up to the task of protecting consumers and promoting competition. Specialists in law and economics from both sides of the Atlantic met to ponder these issues in Paris during January Seven papers from that gathering cover synthetic competition, European competition policy and regulation, contrasting legal solutions and the comparability of European Union and US experiences, modeling an antitrust regulator for telecommunications, harmonizing regulatory oversight with antitrust merger review, market power in the US and European Union electricity generation, and two-sided markets in mobile call termination. The diverse and excellent set of authors assembled in this book aim to shed light on the continuing and conflicting calls for deregulation and re-regulation of important industries and to inform the ongoing, increasingly global, policy debate over the evolving line between regulation and general competition policy. The purpose of this book is to understand the debate and its policy implications, focusing on the traditionally regulated sectors of telecommunications and energy, and comparing approaches in the European Union and the United States. The book also contains contributions that generalize across industries, thus lending relevance beyond the two sectors that anchor the book. The rise and fall of the U.S. mortgage and credit markets : a comprehensive analysis of the market meltdown / James R. Barth... [et al.]. -- Hoboken, New Jersey : J. Wiley, Clasificación: R595 The mortgage meltdown: what went wrong and how do we fix it? Owning a home can bestow a sense of security and independence. But today, in a cruel twist, many Americans now regard their homes as a source of worry and dashed expectations. How did everything go haywire? And what can we do about it now? In The Rise and Fall of the U.S. Mortgage and Credit Markets, renowned finance expert James Barth offers a comprehensive examination of the mortgage meltdown. Together with a team of economists at the Milken Institute, he explores the shock waves that have rippled through the entire financial sector and the real economy. Deploying an incredibly detailed and extensive set of data, the book offers in-depth analysis of the mortgage meltdown and the resulting worldwide financial crisis. This authoritative volume explores what went wrong in every critical area, including securitization, loan origination practices, regulation and supervision, Fannie Mae and Freddie Mac, leverage and accounting practices, and of course, the rating agencies. The authors explain the steps the government has taken to address the crisis thus far, arguing that we have yet to address the larger issues. Offers a comprehensive examination of the mortgage market meltdown and its reverberations throughout the financial sector and the real economy. Explores several important issues that policymakers must address in any future reshaping of financial market regulations. Addresses how we can begin to move forward and prevent similar crises from shaking the foundations of our financial system. The Rise and Fall of the U.S. Mortgage and Credit Markets analyzes the factors that should drive reform and explores the issues that policymakers must confront in any future reshaping of financial market regulations. 9

10 MITCHELL, Melanie. Complexity: a guided tour / Melanie Mitchell. -- Oxford, United Kingdom : Oxford University, Clasificación: 501 M681 What enables individually simple insects like ants to act with such precision and purpose as a group? How do trillions of individual neurons produce something as extraordinarily complex as consciousness? What is it that guides self-organizing structures like the immune system, the World Wide Web, the global economy, and the human genome? These are just a few of the fascinating and elusive questions that the science of complexity seeks to answer. In this remarkably accessible and companionable book, leading complex systems scientist Melanie Mitchell provides an intimate, detailed tour of the sciences of complexity, a broad set of efforts that seek to explain how large-scale complex, organized, and adaptive behavior can emerge from simple interactions among myriad individuals. Comprehending such systems requires a wholly new approach, one that goes beyond traditional scientific reductionism and that re-maps long-standing disciplinary boundaries. Based on her work at the Santa Fe Institute and drawing on its interdisciplinary strategies, Mitchell brings clarity to the workings of complexity across a broad range of biological, technological, and social phenomena, seeking out the general principles or laws that apply to all of them. She explores as well the relationship between complexity and evolution, artificial intelligence, computation, genetics, information processing, and many other fields. Richly illustrated and vividly written, Complexity: A Guided Tour offers a comprehensive and eminently comprehensible overview of the ideas underlying complex systems science, the current research at the forefront of this field, and the prospects for the field s contribution to solving some of the most important scientific questions of our time. Handbook of the equity risk premium / [edited] by Rajnish Mehra. -- Amsterdam, the Netherlands : Elsevier, Clasificación: H236 Edited by Rajnish Mehra, this volume focuses on the equity risk premium puzzle, a term coined by Mehra and Prescott in 1985 which encompasses a number of empirical regularities in the prices of capital assets that are at odds with the predictions of standard economic theory. 10

11 BERNHEIM, B. Douglas. Microeconomics / B. Douglass Bernheim, Michael D. Whinston. -- New York : McGraw-Hill Irwin, Clasificación: B527 Bernheim and Whinston s Microeconomics focuses on the core principles of the intermediate microeconomic course: individuals and firms making decisions, competitive markets, and market failures. An accessible text that does not require knowledge of calculus, Microeconomics utilizes examples and integrates topics that will stimulate and motivate students. Key advantages of Bernheim and Whinston s approach are: a fresh, up-to-date treatment of modern microeconomic theory; a clear and engaging writing style, along with innovative pedagogy that provides students with more accessible ways to understand and master difficult concepts; numerous real-world applications that are closely tied to the theoretical material developed in the text; and, teaches students to solve a wide range of quantitative problems without requiring calculus. ROWLAND, Donald Trevor. Demographic methods and concepts / Donald T. Rowland. -- Oxford, United Kingdom : Oxford University, Clasificación: R883 Demographic Methods and Concepts presents the methods most commonly needed to work with statistical materials on population at national, regional and local levels. Unlike other textbooks in the field, clear non-technical language is used throughout to make demographic techniques accessible to a broad readership irrespective of background in mathematics. All the demographic techniques most relevant to the work of demographers, geographers, sociologists and planners are covered. Demographic concepts and practical strategies important in the interpretation of population statistics are also discussed. The book takes a unique and innovative computer-based approach to the visualization of demographic concepts and data. The fully integrated accompanying CD-ROM contains spreadsheet modules, with on-screen controls and menus, run in Microsoft Excel. The modules can be used without any knowledge of computing. Further Spreadsheet Exercises in the text enable the acquisition of computing techniques that enhance the breadth and depth of investigations, as well as enjoyment and proficiency in working with population statistics. Applied methods for trade policy analysis: a handbook / edited by Joseph F. Francois, Kenneth A. Reinert. -- Cambridge, United Kingdom : Cambridge University, Clasificación: A652 This book provides a comprehensive introduction to the applied economic modeling of trade policies. The book introduces the reader to trade policy concepts, welfare measurement, accounting frameworks, and both partial 11

12 and general equilibrium modeling approaches. It first covers these topics at a basic level and then introduces the reader to a number of more advanced topics: imperfect competition, dynamic modeling, labor market structure, and environmental modeling. Economic graduate students, professors, and policy makers will find the collection to be an important reference tool. Readings in public sector economics / edited by Samuel H. Baker, Catherine S. Elliott. -- Lexington, Massachusetts: D.C. Heath, Clasificación: 336 R287 We see at least two objectives in using Readings in Public Sector Economics to supplement public sector economics texts: to present policy issues, allowing students an opportunity to apply the theory discussed in class, and to show students how material is developed in the literature by having them read some of the classics, as well as current contributions. To fulfill these goals, we have attempted to bring together thought-provoking policy pieces, good examples of economic argument, and well-done surveys. The purpose of this volume is to make the widest possible array of such work accessible to undergraduate students at a challenging, yet manageable, technical level. This volume is the outgrowth of our experience in teaching public sector economics. Each year, while using library reserve reading lists and, more recently, copying services, we would ask publishers if a current readings book was available, and each year the answer would be no. Thus, this project began. Because of the large literature in public sector economics, we were forced to choose from among many outstanding contributions in order to limit the readings to a manageable number. Fortunately, we were able to reprint a large number of selections that provide a broad range of topics as well as ideological balance. 12

13 DOCUMENTOS PUBLICADOS POR INVESTIGADORES DEL BANCO DE MEXICO Disponibles en la página web del Banco de México: MARTÍNEZ FRITSCHER, André. An evaluation of the 1997 fiscal decentralization reform in Mexico : the case of the health sector / André Martínez Fritscher, Carolina Rodríguez-Zamora. (Disponible sólo en inglés). Descripción: Este documento estudia el impacto de la descentralización de los fondos y responsabilidades en materia de salud que se llevó a cabo en México en 1997 sobre medidas de bienestar en salud a nivel estatal. Obtenemos dos resultados principales. Primero, la magnitud de las transferencias del gobierno federal a los estados no tomó en cuenta las necesidades específicas de salud de cada uno de los estados; en cambio, las transferencias estuvieron principalmente determinadas por el gasto en salud que el gobierno federal ejecutaba en cada estado previo a la reforma. Segundo, la descentralización no mejoró los avances en salud logrados durante el régimen centralizado de salud. Concluimos discutiendo las posibles razones por las que se explica el decepcionante impacto de la descentralización sobre las medidas de bienestar en salud. Liga de acceso: HERNÁNDEZ, Manuel A.. How far do shocks move across borders? : examining volatility transmission in major agricultural futures markets / Manuel A. Hernández, Raúl Ibarra-Ramírez, Danilo R. Trupkin. (Disponible sólo en inglés). Descripción: En este trabajo se analiza el nivel de interdependencia y transmisión de volatilidad en los mercados internacionales de futuros agrícolas. Se sigue un enfoque de GARCH multivariado para explorar la dinámica y la dinámica cruzada de la volatilidad para los principales mercados de maíz, trigo y soya en Estados Unidos, Europa y Asia. Se toma en cuenta el posible sesgo que puede surgir cuando se consideran mercados con diferentes horarios de cierre. Los resultados indican que los mercados agrícolas se encuentran altamente interrelacionados y que existen derrames propios y cruzados de volatilidad y dependencias entre la mayoría de los mercados. Los resultados indican además el importante papel que juega Chicago en términos de efectos de derrame de volatilidad sobre los otros mercados, particularmente para maíz y trigo. Adicionalmente, el nivel de interdependencia entre los mercados sólo se ha incrementado en años recientes para algunos de los productos primarios. Liga de acceso: 13

14 CAPISTRÁN, Carlos. Policy response to external shocks : lessons from the crisis / Carlos Capistrán, Gabriel Cuadra, Manuel Ramos-Francia. (Disponible sólo en inglés). Descripción: Las economías emergentes han estado sujetas a reversiones abruptas de flujos de capital, las cuales tienen consecuencias adversas sobre la actividad económica y la estabilidad financiera. Una pregunta importante para los hacedores de política es cómo responder a una pérdida repentina de acceso al financiamiento externo y sus efectos negativos sobre la economía doméstica. La experiencia de las economías emergentes durante la reciente crisis financiera muestra que aquellas economías con relativamente mejores fundamentos fueron capaces de implementar políticas contra-cíclicas. Este artículo proporciona un marco analítico simple para racionalizar dicha evidencia. En particular, aborda dicho tema mediante un modelo macroeconómico de pequeña escala de tipo Neo-Keynesiano. Ejercicios numéricos ilustran la manera en que políticas monetaria y fiscal creíbles incrementan los grados de libertad de los hacedores de política para responder a choques externos adversos. Liga de acceso: KAISER, Karen. Preference for variety / Karen Kaiser, Rainer Schwabe. (Disponible sólo en inglés). Descripción: Consideramos a un agente que disfruta elegir de un conjunto variado de alternativas. Basándonos en evidencia acerca del comportamiento de los consumidores, proponemos axiomas verificables que caracterizan preferencias por variedad y presentamos un teorema de representación. Además, ilustramos los efectos potenciales de las preferencias por variedad en un modelo de ventas al menudeo. El bienestar de los consumidores puede disminuir al aumentar la competitividad del sector, ya que la competencia elimina las economías de escala necesarias para que los minoristas ofrezcan variedad. Los consumidores mayoritarios que tienen preferencias por variedad y gustos comunes mantienen una relación simbiótica con consumidores que tienen preferencias excéntricas. La competencia por los consumidores mayoritarios hace que los establecimientos ofrezcan bienes exóticos, y los consumidores excéntricos subsidian los costos de ofrecer dichos productos. Liga de acceso:

15 DOCUMENTOS PUBLICADOS RECIENTEMENTE POR OTROS BANCOS CENTRALES BERGER, Brett. The growth of Chinese exports : an examination of the detailed trade data / Brett Berger, Robert F. Martin. -- Washington, D.C. Board of Governors of the Federal Reserve System, p. : il. -- (International Financial Discussion Papers; no. 1033). DEBORTOLI, Davide. Loose commitment in medium-scale macroeconomic models: theory and applications / Davide Debortoli, Junior Maih, Ricardo Nunes. -- Washington, D.C.: Board of Governors of the Federal Reserve System, p. : il. -- (International Financial Discussion Papers; no. 1034). LONDONO, Juan M. The variance risk premium around the world / Juan M. Londono. -- Washington, D.C. : Board of Governors of the Federal Reserve System, p. : il. -- (International Financial Discussion Papers ; no. 1035). DEBORTOLI, Davide. Monetary regime switches and unstable objectives / Davide Debortoli, Ricardo Nunes. -- Washington, D.C. : Board of Governors of the Federal Reserve System, p. : il. (International Financial Discussion Papers ; no. 1036). 14

16 JIMENO, Juan F. Collective bargaining, firm heterogeneity and unemployment / Juan F. Jimeno and Carlos Thomas. -- Madrid, España: Banco de España, p. : il. -- (Documentos de trabajo; no. 1131). DocumentosTrabajo/11/Fich/dt1131e.pdf JUNG, Philip. Optimal labor-market policy in recessions / Philip Jung, Keith Kuester. -- Philadelphia, Pennsylvania : Federal Reserve Bank of Philadelphia, p. : il. -- (Working paper ; no ). OBERFIELD, Ezra. Business networks, production chains, and productivity : a theory of input-output architecture / Ezra Oberfield. -- Chicago, Illinois : Federal Reserve Bank of Chicago, p. : il. -- (Working paper; ). AASTVEITY, Knut Are. The world is not enough! : small open economies and regional dependence / Knut Are Aastveity, Hilde C. Bjørnland, Leif Anders Thorsrud. -- Oslo, Norway : Norges Bank, p. : il. -- (Working paper ; ). wp_2011_16.pdf AMSTAD, Marlene. Monetary policy implementation : common goals but different practices / Marlene Amstad and Antoine Martin. -- New York : Federal Reserve Bank of New York, p. : il. (Current issues in finance and economics; v. 17, no. 7). 15

17 BERGE, Travis J. A chronology of turning points in economic activity : Spain / Travis J. Berge, Òscar Jordà. San Francisco, California : Federal Reserve Bank of San Francisco, p., T-10, F-10. (Working paper series ; ). NAKOV, Anton. Learning from experience in the stock market / by Anton Nakov and Galo Nuño. -- Frankfurt, Germany : European Central Bank, p. : il. -- (Working paper series; no. 1396). PEERSMAN, Gert. Macroeconomic effects of unconventional monetary policy in the euro area / by Gert Peersman. -- Frankfurt, Germany : European Central Bank, p. : il. -- (Working paper series ; no. 1397). AFONSO, António. Economic performance and government size / by António Afonso and João Tovar Jalles. Frankfurt, Germany : European Central Bank, p. : il. -- (Working paper series ; no. 1399). Para cualquier información sobre este Boletín favor de contactar a la Oficina de Servicios Bibliotecarios en la ext o dirigir un correo electrónico a: osbib@banxico.org.mx Biblioteca del Banco de México Isabel La Católica No. 54, Centro Histórico 17 16