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August 28, 2019

Mexico | GDP measured by the demand side and the supply side tells a different story

The matching of GDP growth rates measured by expenditure components and that measured by production value has deteriorated consistently, and recently more sharply.

December 18, 2018

Mexico | 2019 fiscal budget: the government approves its first big test

The fiscal package is sound in macroeconomic terms but introduces some microeconomic distortions. It is built on reasonable and market-aligned economic assumptions. Revenue and spending projections are conservative. As we expected, market reaction was slightly positive.

May 18, 2018

Mexico is going to need fiscal legislation that is actually complied with

The country has made great advances in the last twenty or so years in designing an institutional framework that contributes towards having well-ordered public finances. In 2006 the Federal Budget and Fiscal Responsibility Act was passed.

April 5, 2018

The Pension System in 2017and the Revaluation Index in2018

Last week, the budget balance of Spanish public administrations and the situation of the Social Security accounts at 2017 year-end were released. This very useful information can be used to update the change in various components of the theoretical Pension Revaluation Index (IRP from its Spanish initials) for 2018.

April 4, 2018

Got symptoms? High U.S. healthcare spending and its long-term impact on economic growth

Systemic inefficiencies explain the high level of healthcare spending in the U.S. Reducing deadweight losses and redirecting resources to more productive uses could boost output by $8 trillion over 30 years.
  • Geography Tags
  • USA

January 22, 2018

Are we wrong about Catalonia?

The fact that we are not seeing any significant deterioration in activity, in view of the uncertainty arising from the political environment in Catalonia, has cast doubt on estimates of the negative impact that these events could be having. It is very likely that the increased uncertainty is reducing the Spanish economy’s c…

November 6, 2017

Chile | IMACEC de 1,3% a/a en septiembre sorprende negativamente al consenso

Pese a fuerte incidencia de minería (0,9pp), Imacec de septiembre de 1,3% a/a se ubica bajo lo esperado por el mercado. Sectores no mineros muestran una clara desaceleración, con un crecimiento mensual desestacionalizado nulo. El mes contó con dos días hábiles menos que el año previo.

October 27, 2017

Colombia | ¿Quién prenderá los motores de la economía en 2018?

Sin los fantasmas de la inflación, la devaluación, los impuestos y las altas tasas de interés, el gasto privado mejorará en 2018 y la economía crecerá un 2 % anual, según lo contamos en nuestra recién publicada Situación Colombia.