Optimal Bidding in the Mexican Treasury Securities Primary Auctions: Results of a Structural Econometric Approach

This analysis of the Mexican Treasury securities primary auctions suggests that the uniform format yields higher revenues than the discriminatory format. It applies the structural econometric model proposed by Février, Préget, and Visser (2004). This modTreasury securities, share auction, Mexico

Inflation Dynamics’ Micro Foundations: How Important is Imperfect Competition Really?

This paper analyzes price formation and dynamics according to the industry structure. It divides manufacturing industries of Mexico into two groups: perfectly and imperfectly competitive. The results show that imperfectly competitive industries predominate. Then this classification is used to build consumer price sub indexes for the goods of both sectors. These sub indexes’ inflation dynamics indicate that the exchange rate pass-through in the perfectly competitive sector is significantly higher than in the imperfectly competitive sector, while wage pass-through only affects the imperfectly competitive sector. Also, that inflation inertia is lower in the former than in the latter; adding up in more volatility of the perfectly competitive inflation rate. For policy makers an interesting feature of the perfectly competitive price index is that the evidence suggests that its variations precede those of the imperfectly competitive price index. For economic theorists these features validate recent macroeconomic models with heterogeneous price setting behaviorPanzar-Rosse, Industry Structure, Inflation, Price Dynamics, Price Indexes

Nominal Wage Rigidities in Mexico: Evidence from Social Security Records

This paper analyses the existence and extent of downward nominal wage rigidities in the Mexican labor market using data from the administrative records of the Mexican Social Security Institute (IMSS). This longitudinal, firm-level dataset allows us to track workers employed with the same firm, observe their wage profiles and calculate the nominal-wage changes they experience over time. Based on the estimated density functions of nominal wage changes and other moments of the distribution, we are able to calculate several standard tests of nominal wage rigidity that have been proposed in the literature. Furthermore, we extend these tests to take into account the presence of minimum wage laws that may affect the distribution of nominal wage changes. The densities and tests calculated using these date are similar to those obtained using administrative data from other countries, and constitute a significant improvement over the measures of nominal wage rigidities obtained from household survey data. We find considerably more wage rigidity than previous estimates obtained for Mexico using data from the National Urban Employment Survey suggest. Furthermore, we find evidence that the extent of nominal wage rigidities has been falling over time. We also document the importance of minimum wages in the Mexican labor market, as evidenced by the large fraction of minimum wage earners and the widespread indexation of wage changes to the minimum wage increases.

Analysis of Optimal Bids in the Primary Auction of Mexican Federal Government Bonds: Results of a Structural Econometric Modeling Approach.

In this article we analyze the treasury securities primary auctions of the Mexican Federal Government, using a structural econometric model of Février, Préget and Visser (2002). This model allows to make revenue comparisons across auction formats. Our analysis shows the revenue superiority of the uniform auction format over the discriminatory one. Comparisons with previous estimations as well as simulation exercises of the securities’ value signals, suggest that this result may be explained by the winner’s curse.auctions, treasury securities, winner’s curse, structural econometric models

Outdoor children’s education: forest school and Cantabria

Grado en Magisterio en Educación Infanti

Periodic spatial variation of the electron-phonon interaction in epitaxial graphene on Ru(0001

We have performed low temperature scanning tunnelling spectroscopy (STS) measurements on graphene epitaxially grown on Ru(0001). An inelastic feature, related to the excitation of a vibrational breathing mode of the graphene lattice, was found at 360 meV. The change in the differential electrical conductance produced by this inelastic feature, which is associated with the electron-phonon interaction strength, varies spatially from one position to other of the graphene supercell. This inhomogeneity in the electronic properties of graphene on Ru(0001) results from local variations of the carbon-ruthenium interaction due to the lattice mismatch between the graphene and the Ru(0001) lattices.Comment: 6 Pages, 3 figure

Scientific discourse in educational research in Latin America: the case of Mexico

En este artículo se presenta el estado del arte del análisis del discurso científico en la investigación educativa en México, particularmente en el diseño y desarrollo del currículo. La investigación en el área del currículo universitario comenzó en México en los años 80. El discurso estaba orientado hacia la búsqueda de modelos y métodos de enseñanza y evaluación, la implementación del practicum y la correspondencia entre la formación profesional y el empleo en el contexto nacional. La década de los 90 está influenciada por las políticas educativas globalizadoras, el uso de TIC en el proceso de enseñanza-aprendizaje, la aparición de un mercado laboral más competitivo. Para responder a esto requerimientos el discurso científico se orienta hacia el diseño de un currículo universitario que responda a una formación profesional que permita la inserción en un mercado laboral con estándares internacionales. La reforma integral de educación que está teniendo lugar en México en la actualidad apuesta por la formación basada en competencias a nivel de educación básica. No obstante, en el ámbito universitario, la formación por competencias coexiste con otros modelos de formación profesional, lo que apunta a una diversidad de enfoques en el tratamiento del análisis del discurso.In this article it is presented the state of arts of the analysis of the scientific discourse in educational research in Mexico, particularly, in the curriculum design and development research. The development of the research in the area of university curricula started seriously in the decade of 80 ́s.The scientific discourse was oriented towards the searching of models and methods of teaching and evaluation, of the best way of the implementation of practicum and the correspondence between the professional formation and employment in the national context. In the other hand, the decade of 90 ́s is characterized by the influence of international educational policies, the use of CIT in the teaching-learning process, the appearance of more competitive occupational market, where professionals should be inserted. The scientific discourse was oriented towards the searching of curricular models that guarantee the correspondence between the professional formation and employment in the international framework. Nowadays an integral educational reform (RIE) is taking place in Mexico where the competence approach is considered the guideline of the curriculum design in primary and secondary levels. Nevertheless, at the university level, different curriculum models are being implemented. This speaks about the diversity of the scientific discourse used in the curriculum research in Mexico