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  1. The NAIRU and informality in the Mexican labor market
    Autor*in: Aguilar-Argaez, Ana María; Alcaraz, Carlo; Ramírez, Claudia; Rodríguez-Pérez, Cid Alonso
    Erschienen: July 2020
    Verlag:  Banco de México, [Ciudad de México, México]

    The non-accelerating inflation rate of unemployment (NAIRU) is not directly observable and the presence of informal workers imposes an additional challenge in its estimation. Countries with large informal sectors, traditional measures might not... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 192
    Fernleihe:
    keine Fernleihe

     

    The non-accelerating inflation rate of unemployment (NAIRU) is not directly observable and the presence of informal workers imposes an additional challenge in its estimation. Countries with large informal sectors, traditional measures might not depict labor slack properly, as it has the wage flexibility needed to incorporate formal workers that cannot find a formal job. In this paper, we present an estimation of the traditional NAIRU for Mexico and an alternative measure that includes informality as an indicator of labor underutilization. We find that both measures of NAIRU and the associated labor market slack indicators follow similar patterns over time. However, the slack estimated with the indicator that includes informality seems to predict inflationary pressures more accurately when the unemployment gap is close to zero.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/240698
    Schriftenreihe: Working papers / Banco de México ; no 2020, 09
    Umfang: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  2. The NAIRU and informality in the Mexican labor market
    Autor*in: Aguilar-Argaez, Ana María; Alcaraz, Carlo; Ramírez, Claudia; Rodríguez-Pérez, Cid Alonso
    Erschienen: February 2022
    Verlag:  Bank for International Settlements, Monetary and Economic Department, [Basel]

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 546
    Fernleihe:
    keine Fernleihe
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: BIS working papers ; no 1005
    Schlagworte: Unemployment; Informality; NAIRU; Business cycle
    Umfang: 1 Online-Ressource (circa 54 Seiten), Illustrationen
  3. Descomposición de la compensación por inflación y riesgo inflacionario en México
    Autor*in: Aguilar-Argaez, Ana María; Elizondo, Rocio; Roldán-Peña, Jessica
    Erschienen: Diciembre 2016
    Verlag:  Banco de México, [Ciudad de México, México]

    This document studies the recent evolution of the break-even-inflation implicit in the yields of long-term financial instruments in Mexico. In particular, it analyzes the dynamics of its main components: the long-run inflation expectation and the... mehr

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 192 (2016,22)
    Fernleihe:
    keine Fernleihe

     

    This document studies the recent evolution of the break-even-inflation implicit in the yields of long-term financial instruments in Mexico. In particular, it analyzes the dynamics of its main components: the long-run inflation expectation and the inflationary risk premium, which are estimated by means of an affine term structure model of interest rates. The results show that the gradual reduction registered in such compensation in the last years is the result of the decrease showed by both components. This reflects, on the one hand, the progressive convergence of the estimated inflation expectation to Banco de México's inflation target as well as its anchoring and, on the other hand, that nominal-bond holders have required a lower hedging against future inflation, possibly, as a reflection of a lower risk perception associated to it.

     
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    Quelle: Verbundkataloge
    Sprache: Spanisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/174452
    Schriftenreihe: Documentos de investigación / Banco de México ; no 2016, 22
    Umfang: 1 Online-Ressource (circa 29 Seiten), Illustrationen