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The objective of this essay is to analyze the demand for M4 and the capital flows in Mexico for the period 1978-1990. The empirical evidence shows the existence of a stable demand for M4, which depends, in the long run, on income and interest rate. In the short run, changes in the satisfaction rate and the currency substitution effect are relevant factors to explain M4. The presence of currency substitution implies that the authorities must take account of the differentials in the interest rates between Mexico and the United States. (Rev Econ Polit/DÜI)

El principal objetivo de este trabajo es analizar las relaciones entre el consumo de energía y el producto y los precios en la economía mexicana. Los resultados más importantes indican que dicho consumo está estrechamente asociado a la evolución del producto y mantiene una relación negativa pero inelástica con el precio de la energía. Asimismo, ante un aumento de los precios de ésta, se encontró que el producto disminuye y el nivel de precios generales aumenta. Esta interdependencia entre variables macroeconómicas y precios de la energía indica que un aumento de estos últimos es insuficiente para controlar el consumo de energía, lo cual limita el uso de los precios como instrumento único de política pública. Este escenario dificulta la opción de desacoplar la trayectoria del consumo de energía y el producto en los próximos años.

The objective of this essay is to analyze the effects of the minimal nominal wage, a monetary aggregate and the exchange rate on the price level using the Johansen procedure for co-integration. The empirical evidence indicates the existence of a long term relationship among those variables and the price level that can be interpreted as a price equation. The econometric model allows establishing the specific weights of each of these variables. (Rev Econ Polit/DÜI)

El objetivo del presente artículo es identificar los impactos del cambio climático en la ganadería en México. Se utiliza información correspondiente a 28 337 unidades de producción ganadera para estimar un modelo Ricardiano y simular los impactos del cambio climático en los ingresos netos por cabeza. Los principales resultados sugieren que el cambio climático podría reducir los ingresos netos entre -13.42 y -16.87% en 2041-2060 y entre -14.42 y -33.83% en 2081-2100. Además, los productores pequeños y con menor diversificación parecen ser los más vulnerables al cambio climático.

The objective of this article is to analyse the consumption patterns incorporating the demographic effects in Mexico using the ENIGH-2018. The main results show that the consumption patterns for different goods i can be specified as a function of total expenditure, of the demographic variables and the control variables such as economic and social characteristics. The demographic characteristics such as the number of members and children in the household affects the expenditure patterns of the household. For example, the proportion of expenditure in food and house with respect to total expenditure of the households is larger in households without children than with children and the proportion of expenditure with respect to total expenditure is larger in education and amusement in households with children than without children. Furthermore, the number of members and children modified the expenditure in food, education, housing, transport and clothes and the Engel expenditure elasticities indicate that food and clothes are necessary goods and education and amusement are, in general, luxury goods.