Junio 2015 - Banco de México
Transcription
Junio 2015 - Banco de México
Biblioteca del Banco de México Boletín mensual Junio 2015 CONTENIDO Presentación del libro: “Pobreza y Desigualdad: un enfoque multidisciplinario” Nuevas adquisiciones Documentos publicados por investigadores del Banco de México Documentos publicados recientemente por otros bancos centrales u organismos gubernamentales Síguenos en: Regresar a contenido 1 Dra. Mireya Vilar, Dr. Abdón Sánchez, Dr. Julio Santaella, Dr. Isidro Soloaga y Mtro. Rodolfo de la Torre. “Pobreza y desigualdad: un enfoque multidisciplinario”. El 20 de mayo de 2015 se llevó a cabo la presentación del libro: “Pobreza y Desigualdad: un enfoque multidisciplinario”, en el Auditorio del Museo Franz Mayer. Regresar a contenido 2 NUEVAS ADQUISICIONES Irrational exuberance Robert J. Shiller Hall of mirrors: the Great Depression, the great recession, and the uses-and misuses-of history Barry Eichengreen Climate shock: the economic consequences of a hotter planet Gernot Wagner, Martin L. Weitzman Stochastic partial differential equations Pao-Liu Chow Market madness: a century of oil panics, crises, and crashes Blake C. Clayton High-frequency financial econometrics Yacine Aït-Sahalia and Jean Jacod Labor economics Pierre Cahuc, Stéphane Carcillo, and André Zylberberg Regresar a contenido República Popular China: de la utopía al mercado Eugenio Anguiano Roch, Ugo Pipitoni, editores Banking crises, liquidity, and credit lines: a macroeconomic perspective Gurbachan Singh Why gender matters in economics Mukesh Eswaran Environmental economics and policy Tom Tietenberg, Lynne Lewis Seguro popular y federalismo en México: un análisis de política pública Laura Flamand y Carlos Moreno Jaimes Exchange rate economics: the uncovered interest parity puzzle and other anomalies Norman C. Miller Formal and informal social safety nets: growth and development in the modern economy Mohammad Ashraf Brazilian upstream oil and gas: a practical guide to the law and regulation Consulting editor Eduardo Pereira The International Monetary Fund and the world economy: volume I edited by Graham Bird and Dane Rowlands Bank capital and risk-taking: the impact of capital regulation, charter value, and the business cycle Stéphanie M. Stolz Stochastic calculus for finance Steven E. Shreve Introduction to synthetic polymers Ian M. Campbell Applied econometric techniques Keith Cuthbertson, Stephen G. Hall, Mark P. Taylor 3 DOCUMENTOS PUBLICADOS POR INVESTIGADORES DEL BANCO DE MEXICO The effect of a transfer program for the elderly in Mexico City on co-residing children’s school enrollment Emilio Gutiérrez; Laura Juárez González; Adrián Rubli DOCUMENTOS PUBLICADOS RECIENTEMENTE POR OTROS BANCOS CENTRALES U ORGANISMOS GUBERNAMENTALES The impact of trade on labor market dynamics Lorenzo Caliendo, Maximiliano A. Dvorkin, and Fernando Parro Inflation expectations and recovery from the depression in 1933: evidence from the narrative record Andrew Jalil and Gisela Rua Demand learning and firm dynamics: evidence from exporters Nicolas Berman, Vincent Rebeyrol and Vincent Vicard Regresar a contenido Measuring income and wealth at the top using administrative and survey data Jesse Bricker, Alice M. Henriques, Jake A. Krimmel, and John E. Sabelhaus Credit-market sentiment and the business cycle David López-Salido, Jeremy C. Stein, and Egon Zakrajsek The formation of european inflation expectations: one learning rule does not fit all Christina Strobach; Carin van der Cruijsen The effect of shocks to college revenues on for-profit enrollment: spillover from the public sector Sarena F. Goodman and Alice M. Henriques Derivatives pricing under bilateral counterparty risk Samim Ghamami The social costs of currency counterfeiting Nathan Viles GDP per capita in advanced countries over the 20th century Antonin Bergeaud, Gilbert Cette and Rémy Lecat The labor wedge and business cycle in Chile David Coble; Sebastián Faúndez Accounting for labor GAPS François Langot; Alessandra Pizzo “Made in China” - How does it affect our understanding of global market shares? Konstantins Benkovskis, Julia Wörz Optimal supervisory architecture and financial integration in a banking union Jean-Edouard Colliard The stability of short-term interest rates pass-through in the euro area during the financial market and sovereign debt crises Sanvi Avouyi-Dovi, Guillaume Horny and Patrick Sevestre 4 Nuevas adquisiciones Irrational exuberance Robert J. Shiller Princeton, New Jersey: Princeton University, 2015. Clasificación: 332.632220973 S556 2015 Resumen: In this revised, updated, and expanded edition of his New York Times bestseller, Nobel Prize–winning economist Robert Shiller, who warned of both the tech and housing bubbles, now cautions that signs of irrational exuberance among investors have only increased since the 2008–9 financial crisis. With high stock and bond prices in the United States, and rising housing prices in many countries, the post-subprime boom may well turn out to be another illustration of Shiller’s influential argument that psychologically driven volatility is an inherent characteristic of all asset markets. Regresar a contenido In other words, Irrational Exuberance is as relevant as ever. But Irrational Exuberance is about something far more important than the current situation in any given market because the book explains the forces that move all markets up and down. It shows how investor euphoria can drive asset prices up to dizzying and unsustainable heights, and how, at other times, investor discouragement can push prices down to very low levels. Previous editions covered the stock and housing markets—and famously predicted their crashes. This new edition expands its coverage to include the bond market, so that the book now addresses all of the major investment markets. This edition also includes updated data throughout, as well as Shiller’s 2013 Nobel Prize lecture, which puts the book in broader context. In addition to diagnosing the causes of asset bubbles, Irrational Exuberance recommends urgent policy changes to lessen their likelihood and severity—and suggests ways that individuals can decrease their risk before the next bubble bursts. No one whose future depends on a retirement account, a house, or other investments can afford not to read it. 5 Hall of mirrors: the Great Depression, the great recession, and the uses-and misuses-of history Barry Eichengreen Oxford, United Kingdom: Oxford University, 2015. Clasificación: 330.9043 E34 Resumen: First and only systematic comparative analysis of the two great economic and financial crises of the last 100 years; Provides an integrated account of experience in the US and Europe, which together constituted the epicenter of the recent crisis and were similarly at the center of the Great Depression; Economic analysis is leavened by anecdote and personalities, with key figures in both crises introduced and humanized; Shows how the history of the Great Depression shaped how policy makers perceived and responded to the Global Credit Crisis, but equally how the recent crisis will in turn re-shapes how we see the Regresar a contenido Depression. The Great Depression and the Great Recession are the two great economic crises of the past hundred years. While there are accounts of both episodes, no one has yet attempted a sustained comparative analysis. In Two Crises, Barry Eichengreen draws on his unparalleled expertise for a brilliantly conceived dual-track account of the two crises and their consequences. Rather than telling the stories of the two crises in sequence, instead he weaves them together. He describes the two bubble-fueled buildups, then the onset of crisis, the subsequent financial and economic and collapse, the policy response, and finally the recovery. A theme of Eichengreen’s narrative is that while the policy response to the Great Recession was importantly shaped by perceptions of the Great Depression - contemporary policymakers did in fact learn lessons from the Depression that enabled them, this time, to prevent the worst - they could have done better. Their failure to do so reflected a tendency to take the lessons of the Depression too literally, leading to an inability to recognize important respects in which circumstances, and specifically the structure of financial markets, had changed - precisely in response to the policies put in place due to the Depression. 6 Climate shock: the economic consequences of a hotter planet Gernot Wagner, Martin L. Weitzman Princeton, New Jersey: Princeton University, 2015. Clasificación: 363.73874 W133 Resumen: If you had a 10 percent chance of having a fatal car accident, you’d take necessary precautions. If your finances had a 10 percent chance of suffering a severe loss, you’d reevaluate your assets. So if we know the world is warming and there’s a 10 percent chance this might eventually lead to a catastrophe beyond anything we could imagine, why aren’t we doing more about climate change right now? We insure our lives against an uncertain future-why not our planet? In Climate Shock, Gernot Wagner and Martin Weitzman explore in lively, clear Regresar a contenido terms the likely repercussions of a hotter planet, drawing on and expanding from work previously unavailable to general audiences. They show that the longer we wait to act, the more likely an extreme event will happen. A city might go underwater. A rogue nation might shoot particles into the Earth’s atmosphere, geoengineering cooler temperatures. Zeroing in on the unknown extreme risks that may yet dwarf all else, the authors look at how economic forces that make sensible climate policies difficult to enact, make radical would-be fixes like geoengineering all the more probable. What we know about climate change is alarming enough. What we don’t know about the extreme risks could be far more dangerous. Wagner and Weitzman help readers understand that we need to think about climate change in the same way that we think about insurance--as a risk management problem, only here on a global scale. Demonstrating that climate change can and should be dealt with--and what could happen if we don’t do so--Climate Shock tackles the defining environmental and public policy issue of our time. 7 Stochastic partial differential equations Pao-Liu Chow Boca Raton, Florida: CRC, 2015. Clasificación: 519.22 C552 2015 Resumen: Employs the methods of eigenfunction expansions, Green’s functions, and Fourier transforms to study stochastic transport, heat, and wave equations; Shows how concrete problems lead to the general theory of stochastic evolution equations in a Hilbert space; Proves the general theorems on existence, uniqueness, and regularity of solutions and applies them to Regresar a contenido several problems; Discusses the asymptotic behavior of solutions to stochastic evolution equations, such as boundedness, stability, and invariant measures; Points out the connections between stochastic PDEs and diffusion equations in infinite dimensions. This book takes a practical approach to the subject, starting with concrete problems and leading to general theory. Suitable for a graduate- level course on stochastic PDEs, this edition adds material on new developments in jump processes. Along with more problems and examples, it also includes additional applications related to finance, engineering, and biology as well as a new chapter dedicated to current topics, such as the stochastic Cahn-Hillard equation. 8 Market madness: a century of oil panics, crises, and crashes Blake C. Clayton Oxford, United Kingdom: Oxford University, 2015. Clasificación: 338.272820973 C622 Resumen: A groundbreaking study of financial crises and market panics in the context of the global oil market, drawn from over a century of data. The first major historical study to utilize Nobel Prizewinning economist Robert Shiller’s concept of new era economic thinking to understand the long history of one of the world’s most critical marketplaces. Combines statistical analyses with in-depth historical investigation to yield a truly iconic study of greed, fear, and turbulence that spans the dawn of the 20th century and the unfolding American energy boom. Authored by a Citigroup stock analyst, the Regresar a contenido study combines real-life market experience with deep academic expertise” In Market Madness, Dr. Blake Clayton, a Wall Street stock analyst and former Oxford researcher, draws on a century’s worth of statistical data to offer a revolutionary new look the history of oil and future of energy. The culmination of a multi-year study, he shows how generational fears about an imminent, irreversible shortage of oil punctuate the history of oil since its earliest days. He explores the conditions in which oil supply fears arise, gain popularity, and eventually wane, and shows how important such stories can be in affecting financial markets. He links these episodes to the behavioral concept of irrational exuberance and new era economic thinking, first popularized by Nobel Laureate Yale economist Robert Shiller, to show how unfounded pessimism affects the market for oil and other exhaustible resources. Acknowledging the significant geological and structural changes the oil market has undergone over the last century, the book does not dismiss today’s shortage fears out of hand, but asks what they reveal about how commodity markets function and what that means for investors and public officials. 9 High-frequency financial econometrics Yacine Aït-Sahalia and Jean Jacod Princeton, New Jersey: Princeton University, 2014. Clasificación: 332.015195 A311 Resumen: High-frequency trading is an algorithm-based computerized trading practice that allows firms to trade stocks in milliseconds. Over the last fifteen years, the use of statistical and econometric methods for analyzing highfrequency financial data has grown exponentially. This growth has been driven by the increasing availability of such data, the technological advancements that make high-frequency trading strategies possible, and the need of practitioners to analyze these data. This comprehensive book Regresar a contenido introduces readers to these emerging methods and tools of analysis. Yacine Aït-Sahalia and Jean Jacod cover the mathematical foundations of stochastic processes, describe the primary characteristics of high-frequency financial data, and present the asymptotic concepts that their analysis relies on. Aït-Sahalia and Jacod also deal with estimation of the volatility portion of the model, including methods that are robust to market microstructure noise, and address estimation and testing questions involving the jump part of the model. As they demonstrate, the practical importance and relevance of jumps in financial data are universally recognized, but only recently have econometric methods become available to rigorously analyze jump processes.Aït-Sahalia and Jacod approach high-frequency econometrics with a distinct focus on the financial side of matters while maintaining technical rigor, which makes this book invaluable to researchers and practitioners alike. 10 Labor economics Pierre Cahuc, Stéphane Carcillo, and André Zylberberg Cambridge, Massachusetts: MIT, 2014. Clasificación: 331 C132 2014 Resumen: This landmark graduate-level text combines depth and breadth of coverage with recent, cuttingedge work in all the major areas of modern labor economics. Its command of the literature and its coverage of the latest theoretical, methodological, and empirical developments make it also a valuable resource for practicing labor economists. This second edition has been substantially updated and augmented. It incorporates examples drawn Regresar a contenido from many countries, and it presents empirical methods using contributions that have proved to be milestones in labor economics. The data and codes of these research publications, as well as numerous tables and figures describing the functioning of labor markets, are all available on a dedicated website (www. labor-economics.org), along with slides that can be used as course aids and a discussion forum. This edition devotes more space to the analysis of public policy and the levers available to policy makers, with new chapters on such topics as discrimination, globalization, income redistribution, employment protection, and the minimum wage or labor market programs for the unemployed. Theories are explained on the basis of the simplest possible models, which are in turn related to empirical results. Mathematical appendixes provide a toolkit for understanding the models. 11 República Popular China: de la utopía al mercado Eugenio Anguiano Roch, Ugo Pipitoni, editores México, D.F.: Centro de Investigación y Docencia Económicas, 2014. Clasificación: 951.04 A594 Resumen: El periodo de la República Popular cubre una minúscula porción de la larga historia de China, pero en los últimos 65 años han ocurrido profundas e insólitas transformaciones en esa nación, por lo que su estudio demanda una extensa bibliografía. Eugenio Anguiano y Ugo Pipitone han hecho un esfuerzo selectivo de lecturas para esta segunda Regresar a contenido antología sobre China, en la inteligencia de que por la vastedad del tema y la rápida caducidad de su actualización quedarán siempre lagunas testimoniales en un ejercicio de esta naturaleza. Habida cuenta de tal limitante, aparecen en las páginas de este libro algunos de los textos más significativamente vigentes para entender el fenómeno contemporáneo chino aportados por expertos del calibre de Ezra F.Vogel, Frederick C. Teiwes, Mineo Nakajima, Laszlo Ladany, Justin Yifu Lin, Hu Angang, Stuart R. Schram, Roderick MacFarquhar, Merle Goldman, Minxin Pei y Michael Schoenhals, entre otros. 12 Why gender matters in economics Mukesh Eswaran Princeton, New Jersey: Princeton University, 2014. Clasificación: 305.4 E82 Resumen: Gender matters in economics-for even with today’s technology, fertility choices, market opportunities, and improved social norms, economic outcomes for women remain markedly worse than for men. Drawing on insights from feminism, postmodernism, psychology, evolutionary biology, Marxism, and politics, this textbook provides a rigorous economic look at issues confronting women throughout the world--including nonmarket scenarios, such as marriage, family, fertility choice, and bargaining within households, as well as market areas, like those pertaining to labor and credit markets and globalization. Mukesh Eswaran examines how Regresar a contenido women’s behavioral responses in economic situations and their bargaining power within the household differ from those of men. Eswaran then delves into the far-reaching consequences of these differences, in market and nonmarket domains. The author considers how women may be discriminated against in labor and credit markets, how their family and market circumstances interact, and how globalization has influenced their lives. swaran also investigates how women have been empowered through access to education, credit, healthcare, and birth control; changes in ownership laws; the acquisition of suffrage; and political representation. Throughout, Eswaran applies sound economic analysis and new modeling approaches, and each chapter concludes with exercises and discussion questions. This textbook gives readers the necessary tools for thinking about gender from an economic perspective. Addresses economic issues for women throughout the world, in both developed and developing countries Looks at both market and nonmarket domains Requires only a background in basic economic principles Includes the most recent research on the economics of gender in a range of areas Concludes each chapter with exercises and discussion questions. 13 Seguro popular y federalismo en México: un análisis de política pública Laura Flamand y Carlos Moreno Jaimes México, D.F.: Centro de Investigación y Docencia Económicas, 2014. Clasificación: 368.40972 F577 Resumen: En México, la atención a la salud es profundamente desigual. Este libro analiza la implementación descentralizada de una de las políticas públicas más am biciosas de las últimas décadas en el país, el Seguro Popular, la cual se propone garantizar la protección financiera en salud a casi la mitad de la población. Aun cuando el derecho a la salud Regresar a contenido se incorporó a la Constitución mexicana desde 1983 y a pesar de los aciertos del Seguro Popular, nuestro sistema de protección social en este sector sigue siendo uno de los menos equitativos de América Latina. Los autores sostienen que dicha desigualdad se explica, en gran medida, por el desarrollo fragmentado del sistema de atención a la salud durante los últimos 80 años, así como por la parcial e inefectiva política de descentralización de los servicios sanitarios. En consecuencia, la protección de un derecho universal se encuentra en manos de 32 sistemas estatales que difieren, de manera dramática, en sus capacidades para proveer servicios eficaces, oportunos y de calidad. 14 Exchange rate economics: the uncovered interest parity puzzle and other anomalies Norman C. Miller Cheltenham, United Kingdom: Edward Elgar, 2014. Clasificación: 332.456 M649 Resumen: The Uncovered Interest Parity (UIP) puzzle has remained a moot point since it first circulated economic discourse in 1984 and, despite a number of attempts at a solution, the UIP puzzle and other anomalies in Exchange Rate Economics continue to perplex economic thought in international finance. This fundamental book fill gaps in the scholarly literature by amalgamating key discourse to generate synthesis models which appear consistent with the UIP puzzle and related anomalies, uniquely bringing them together in one place. Through a comprehensive and current review of the literature, Norman C. Miller reveals new explanations for exchange rate anomalies and offers an alternative approach towards the UIP puzzle, stimulating and guiding future research. Formal and informal social safety nets: growth and development in the modern economy Mohammad Ashraf New York: Palgrave Macmillan, 2013. Clasificación: 361 A827 Resumen: The Great Recession increased public debts across the globe and has thus reinvigorated the debate over social safety nets. Provision of social safety nets is often cited as one of the main reasons for the recent growth in public debt. In Formal and Informal Social Safety Nets, Ashraf Regresar a contenido analyses the role of social safety nets in a time when our global economy threatens our way of life, as entire cities such as Detroit are declared bankrupt. By dividing safety nets into two major categories, ’informal social safety nets’ and ’formal social safety nets,’ in conjunction with empirical evidence based on indepth statistical analyses of data, Ashraf argues that governmentprovided, tax-funded formal social safety nets are not only essential for a modern economy, but may even promote innovation and economic growth and development. 15 Brazilian upstream oil and gas: a practical guide to the law and regulation Consulting editor Eduardo Pereira London, United Kingdom: Globe Law and Business, 2012. Clasificación: 338.47665730981 B827 Resumen: Recent discoveries in the pre-salt area off the coast of Rio de Janeiro and Sao Paulo could reach over 120 billion barrels. Such discoveries could open a vast new market as Brazil - for the first time in its history - becomes a significant oil exporter. However, Brazil is still a new player in the international oil and gas market. Understanding the country’s upstream legal regime is crucial for international investors, as well as for foreign Regresar a contenido lawyers who may be asked to advice on upstream operations in Brazil. This book reviews the key elements of the Brazilian upstream legal framework, including general Brazilian law, the regulatory entities and other players in the upstream sector, the new petroleum legal regime, decommissioning challenges and project finance opportunities. The chapters are written by highly respected Brazilian professionals, including experts from Pinheiro Neto, Machado Meyer Sendacz e Opice Advogados, Vieira Rezende, Merrill Lynch, Campos Mello Advogados and Ernst & Young. Their insights offer reliable guidance for international investors - and the lawyers assisting them - when considering potential investment in Brazil, particularly for those who are not yet familiar with the country’s legal system. 16 Banking crises, liquidity, and credit lines: a macroeconomic perspective Gurbachan Singh London, England: Routledge, 2012. Clasificación: 338.542 S617 Resumen: The banking crisis in 2007-10 was one amongst many such crises in the past. This book provides a fresh approach to liquidity. It starts from basics and gradually builds up analysis of credit lines with few technicalities. Though the analysis is theoretical, the book provides a historical background, a macroeconomic perspective, and policy implications. An integrated view of the pre-1983 and the post-1983 literature is provided. A solution to the related problem of sudden outflow of funds from emerging economies is also suggested. Environmental economics and policy Tom Tietenberg, Lynne Lewis Boston, Massachusetts: Addison-Wesley, 2010. Clasificación: 333.7 T564 2010 Resumen: This text is the premier introductory environmental economics text for non-majors. Policy-oriented coverage of environmental economics for majors and non-majors alike. Environmental Economics and Policy 6/e is a companion text to the larger Environmental and Natural Resource Economics 8/e. This smaller, paper-bound policy text is intended for a broader audience that includes political Regresar a contenido science, environmental studies, and agricultural programs. Environmental Economics and Policy provides a broad but nuanced introduction to the field of environmental economics. This text begins with an introduction to core concepts and theory, followed by a series of policy chapters that are self-contained, allowing for a great degree of flexibility in course design. Boxes throughout the text introduce a large number of real-world examples and ongoing policy debates in order to bring new perspective to the issues being discussed. The sixth edition features new co-author Lynne Lewis from Bates College, a new on land, more coverage on the use of GIS in both analysis and policy, and updates on topics such as climate, water pollution, transportation, and energy. 17 The International Monetary Fund and the world economy: volume I edited by Graham Bird and Dane Rowlands Cheltenham, United Kingdom: Edward Elgar, 2007. Clasificación: 332.152 I609 Resumen: A large and growing academic literature seeks to analyze the key aspects of the International Monetary Fund’s operations from both theoretical and empirical perspectives. This two-volume set draws together what are generally acknowledged to be the most important contributions. In the main it focuses on the economics of the IMF but also reflects the fact that a full understanding of the Fund will only be achieved if its political dimensions are also addressed. The collected articles demonstrate the way in which research on the IMF has evolved over time. They cover the role of the IMF, the determinants of IMF lending, conditionality and the implementation and effects of IMF programs, the prolonged use of IMF resources as well as the IMF’s own reserve asset, the Special Drawing Right. No serious student of the IMF will want to be without this up-to-date and comprehensive collection. Bank capital and risk-taking: the impact of capital regulation, charter value, and the business cycle Stéphanie M. Stolz Berlin, Germany: Springer, 2007. Clasificación: 332.041 S876 Resumen: The year-long consultations on Basel II mirror the international popularity of capital requirements as a regulatory instrument. Yet, the impact of capital requirements on banks’ behavior is not fully Regresar a contenido understood. The aim of this study is to contribute to this understanding by answering the following questions: How do banks adjust capital and risk after an increase in capital requirements? How do banks adjust their regulatory capital buffer over the business cycle? And, what is the impact of banks’ charter value on the regulatory capital buffer? 18 Stochastic calculus for finance Steven E. Shreve New York: Springer, 2004. Clasificación: 332.0151922 S561 Resumen: Stochastic Calculus for Finance evolved from the first ten years of the Carnegie Mellon Professional Master’s program in Computational Finance. The content of this book has been used successfully with students whose mathematics background consists of calculus and calculusbased probability. The text gives both precise statements of results, plausibility arguments, and even some proofs, but more importantly intuitive explanations developed and refine through classroom experience with this material are provided. The Regresar a contenido book includes a self-contained treatment of the probability theory needed for stochastic calculus, including Brownian motion and its properties. Advanced topics include foreign exchange models, forward measures, and jump-diffusion processes. This book is being published in two volumes. The first volume presents the binomial assetpricing model primarily as a vehicle for introducing in the simple setting the concepts needed for the continuous-time theory in the second volume. Chapter summaries and detailed illustrations are included. Classroom tested exercises conclude every chapter. Some of these extend the theory and others are drawn from practical problems in quantitative finance. Advanced undergraduates and Masters level students in mathematical finance and financial engineering will find this book useful. Steven E. Shreve is Co-Founder of the Carnegie Mellon MS Program in Computational Finance and winner of the Carnegie Mellon Doherty Prize for sustained contributions to education. 19 Introduction to synthetic polymers Ian M. Campbell Oxford, United Kingdom: Oxford University, 2000. Clasificación: 668.9 C189 2000 Resumen: This clear and concise textbook introduces the huge field of polymer science to students taking degree courses in chemistry, material science and related subjects covering polymers. By focusing on the few major polymers, for example polystyrene and PVC, which are in common use and which the students will recognize, the book illustrates simply the basic principles of polymer science. It looks at the factors which give rise to the special properties of polymers, and emphasizes how polymer molecules can be synthesized with different sizes and architectures to tailor the properties of the resulting material. The later chapters then introduce a wide range of polymers some with special applications now and others with exciting potential for the future. There are exercises at the end of each chapter. Applied econometric techniques Keith Cuthbertson, Stephen G. Hall, Mark P. Taylor Ann Arbor, Michigan: University of Michigan, 1992. Clasificación: 330.015195 C988 Resumen: Applied Econometric Techniques is designed to bridge the gap between the textbook theory and the advanced applied work required of professional econometricians. The authors emphasize the intuitive aspects of theoretical results to provide insight into solutions of “real world” applied problems. Drawing on their own experience in working for the Bank of England, the International Monetary Fund, the London Business School, Regresar a contenido and other public and private organizations, the authors use a wealth of examples to illustrate the pitfalls as well as the advantages of sophisticated applied techniques. An introductory chapter provides a “refresh course” in standard econometrics for the professional econometricians, graduate students, and advanced undergraduates for whom the volume is intended. The authors then present recent theoretical innovations such as co-integration, error correction models, ARCH models, disequilibrium Maximum Likelihood models, and the Kalman filter. In addition, they discuss the underlying philosophy of dynamic modeling that has grown out of the work of several economists at the London School of Economics. 20 Documentos publicados por investigadores del Banco de México Disponibles en la página web del Banco de México: www.banxico.org.mx The effect of a transfer program for the elderly in Mexico City on co-residing children’s school enrollment Emilio Gutiérrez; Laura Juárez González; Adrián Rubli México, D.F.: Banco de México, 2015. -- 34 p. -- (Documentos de investigación; 2015-09). (Disponible sólo en inglés) Descripción: This paper studies whether the increase in government transfers, induced by an old-age pension program for individuals age 70 and older in Mexico, affects co-residing children’s school enrollment, using a regression discontinuity analysis. Results suggest that while household composition and other household-level characteristics do not change significantly at the cutoff age for program eligibility, co-residing children’s school enrollment increases significantly. This suggests that public resources for older adults might generate benefits for other age groups. An additional finding is that the increase in school enrollment takes places mostly at the program eligibility cutoff and not before. Given that the program transfer is known and potentially anticipated by individuals who are only a few years away from being eligible, this suggests that households might have credit constraints. Liga de acceso: http://www.banxico.org.mx/publicaciones-y-discursos/publicaciones/documentos-de-investigacion/banxico/%7B1AA1DBF5-0CDA-ACB3-DA6B-AD910F8C509C%7D.pdf Regresar a contenido 21 Documentos publicados recientemente por otros bancos centrales u organismos gubernamentales The impact of trade on labor market dynamics Lorenzo Caliendo, Maximiliano A. Dvorkin, and Fernando Parro St. Louis, Missouri: Federal Reserve Bank of St. Louis, 2015. -- 39p. : il. -- (Working Paper; no. 2015-009A). Liga de acceso: http://research.stlouisfed.org/wp/2015/2015-009.pdf Inflation expectations and recovery from the depression in 1933: evidence from the narrative record Andrew Jalil and Gisela Rua Washington, D.C.: Board of Governors of the Federal Reserve System, 2015. -- 83 p.: il. -- (Finance and economics discussion series; no. 2015-029). Liga de acceso: http://www.federalreserve.gov/econresdata/feds/2015/files/2015029pap.pdf Regresar a contenido 22 Demand learning and firm dynamics: evidence from exporters Nicolas Berman, Vincent Rebeyrol and Vincent Vicard Paris, France: Banque de France, 2015. -- 40p. : il. -- (Working papers; no. 551). Liga de acceso: https://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT-551_01.pdf Measuring income and wealth at the top using administrative and survey data Jesse Bricker, Alice M. Henriques, Jake A. Krimmel, and John E. Sabelhaus Washington, D.C.: Board of Governors of the Federal Reserve System, 2015. -- 63 p.: il. -- (Finance and economics discussion series; no. 2015-030). Liga de acceso: http://www.federalreserve.gov/econresdata/feds/2015/files/2015030pap.pdf Credit-market sentiment and the business cycle David López-Salido, Jeremy C. Stein, and Egon Zakrajsek Washington, D.C.: Board of Governors of the Federal Reserve System, 2015. -- 38 p.: il. -- (Finance and economics discussion series; no. 2015-028). Liga de acceso: http://www.federalreserve.gov/econresdata/feds/2015/files/2015028pap.pdf Regresar a contenido 23 The formation of european inflation expectations: one learning rule does not fit all Christina Strobach; Carin van der Cruijsen Amsterdam, The Netherlands: De Nederlandsche Bank, 2015. -- 36p. : il. -- (Working paper; no. 472). Liga de acceso: http://www.dnb.nl/en/binaries/Working%20paper%20472_tcm47-321749.pdf The effect of shocks to college revenues on for-profit enrollment: spillover from the public sector Sarena F. Goodman and Alice M. Henriques Washington, D.C.: Board of Governors of the Federal Reserve System, 2015. -- 31 p. : il. -- (Finance and economics discussion series; no. 2015-025). Liga de acceso: http://www.federalreserve.gov/econresdata/feds/2015/files/2015025pap.pdf Derivatives pricing under bilateral counterparty risk Samim Ghamami Washington, D.C.: Board of Governors of the Federal Reserve System, 2015. -- 28 p. : il. -- (Finance and economics discussion series; no. 2015-026). Liga de acceso: http://www.federalreserve.gov/econresdata/feds/2015/files/2015026pap.pdf Regresar a contenido 24 The social costs of currency counterfeiting Nathan Viles Sydney, Australia: Reserve Bank of Australia, 2015. -- 30p. : il. -- (Research discussion paper; 2015-05). Liga de acceso: http://www.rba.gov.au/publications/rdp/2015/pdf/rdp2015-05.pdf GDP per capita in advanced countries over the 20th century Antonin Bergeaud, Gilbert Cette and Rémy Lecat Paris, France: Banque de France, 2015. -- 48p. : il. -- (Working papers; no. 549). Liga de acceso: https://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT-549_01.pdf The labor wedge and business cycle in Chile David Coble; Sebastián Faúndez Santiago, Chile: Banco Central De Chile, 2015. -- 18 p.: il. -- (Documentos de trabajo; no. 758). Liga de acceso: http://www.bcentral.cl/eng/studies/working-papers/pdf/dtbc758.pdf Regresar a contenido 25 Accounting for labor GAPS François Langot; Alessandra Pizzo Santiago, Chile: Banco Central De Chile, 2015. -- 52 p.: il. -- (Documentos de trabajo; no. 757). Liga de acceso: http://www.bcentral.cl/eng/studies/working-papers/pdf/dtbc757.pdf “Made in China” - How does it affect our understanding of global market shares? Konstantins Benkovskis, Julia Wörz Frankfurt am Main, Germany: European Central Bank, 2015. -- 37 p.: il. -- (Working paper; no. 1787). Liga de acceso: https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1787.en.pdf Optimal supervisory architecture and financial integration in a banking union Jean-Edouard Colliard Frankfurt am Main, Germany: European Central Bank, 2015. -- 44 p.: il. -- (Working paper; no. 1786). Liga de acceso: https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1786.en.pdf Regresar a contenido 26 The stability of short-term interest rates pass-through in the euro area during the financial market and sovereign debt crises Sanvi Avouyi-Dovi, Guillaume Horny and Patrick Sevestre Paris, France: Banque de France, 2015. -- 42p. : il. -- (Working papers; no. 547). Liga de acceso: https://www.banque-france.fr/uploads/tx_bdfdocumentstravail/DT-547_01.pdf Regresar a contenido 27 Para cualquier información sobre este Boletín favor de contactar a la Oficina de Servicios Bibliotecarios al teléfono 523 72000 ext. 4789 y 5791 o dirigir un correo electrónico a: [email protected] Biblioteca del Banco de México, espacio de vanguardia e integración Regresar a contenido 28