Junio 2015 - Banco de México

Transcription

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.
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
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
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.
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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.
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
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.
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
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
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,
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
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
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:
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
Liga de acceso:
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
Liga de acceso:
Derivatives pricing under bilateral counterparty risk
Samim Ghamami
Washington, D.C.: Board of Governors of the Federal Reserve System, 2015. -- 28 p. : il. -- (Finance
Liga de acceso:
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
Liga de acceso:
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
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
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
Liga de acceso:
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: osbib@banxico.org.mx
Biblioteca del Banco de México, espacio de vanguardia e integración
28

Junio 2015 - Banco de México

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