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Several studies have examined the relationship between monetary policy and the stock market. However, few have assessed the impact of fiscal management on this market. This paper examines the extent to which fiscal policy affects a firm's stock market capitalization using the Panel Vector Autoregressive (PVAR) methodology. The study finds that the stock market capitalization in the CPI fully reflects the available information on the movements of variables related to monetary policy. However, total public indebtedness exerts a significant lagged effect on the stock market capitalization of Mexican firms. This finding indicates that the CPI does not fully reflect the available information on the movements of fiscal policy variables. A comprehensive analysis of fiscal policy measures can enhance stock market performance for investors and financial analysts. [ABSTRACT FROM AUTHOR]

Through descriptive and econometric analysis, this paper examines the conceptualization and effect generated by the tax rate of Income Tax on the profitability of companies. First, applying a descriptive-analytical methodology, the conceptualization of the factors that affect the tax rate and its behavior over time was verified. On the other hand, to measure the impact of the income tax rate on profitability, a company from the agrobiotechnology sector listed on the Mexican Stock Exchange was used during 1993-2018. Among the outstanding findings, in the case of Mexico, the corporate rate is a standard tax rate whose behavior presented minor changes throughout the period studied. Nevertheless, the results of the empirical tests allow us to affirm that the rate has a significant influence on the business profitability of the sector. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to analyze the fiscal incentives and public financing destined to the promotion of Workers' Cooperatives in Mexico, as well as the participation of cooperatives in activities that may represent transgressions to the fiscal and labor laws of our country. The results show that the economic crisis of the 1980s forced a change in the economic model and cooperatives were relegated from public policies. The relationship with the State fractured again in 2013 when cooperative companies were accused of fraudulent operations to avoid paying federal taxes, as a consequence, special taxation regimes were eliminated and public financing was reduced. However, the information published by the country's administrative authorities does not provide evidence to ensure that in the last 11 years the cooperative organizations have constituted a risk factor for federal public finances and the labor stability of workers. This research applies a mixed method, which means the combination of quantitative and qualitative research methods and techniques. In the first case, the hypothetical-deductive method is used, and in the second, grounded theory and hermeneutic triangulation. The data come from the tax agency's web page and direct consultation with the institute responsible for providing public information to citizens. [ABSTRACT FROM AUTHOR]

In this paper, we present the results of a survey applied to a sample of municipal officials about the 2014 Reform of the Social Infrastructure Fund (fais). The questionnaire was applied during the second quarter of 2015. We found that the majority of city officials considered appropriate the new rules of operation of the fais. Their concerns relate to the possible reduction of resources allocated, and the further complication to access the funds. It is recommended to disseminate the reform to get city officials familiar with it, and implement a user-friendly operation for municipal administrations, that is also consistent with the objectives of transparency and focalization reflected in the reform. [ABSTRACT FROM AUTHOR]

The objective of this paper is to examine the relationship between fiscal and monetary policy coordination and fiscal multipliers in Argentina, Brazil, Chile, and Mexico. To do so, we first look at the theoretical framework of the New Consensus Macroeconomics (NCM), and then analyze the trends in the four countries for variables including consumption, investment, government spending, and interest rates. Finally, we present an estimate of the spending and monetary multipliers with proxy variables. The contribution of this paper consists of one, showing the inexistence of the crowding out effect, and two, quantifying the multipliers for the aforementioned countries. [ABSTRACT FROM AUTHOR]

This paper analyzes the relationship between the financial instability generated by shortterm capital flows in the absence of control mechanisms and the restrictions facing the implementation of counter-cyclical fiscal policies in the inflation-targeting regime, using as a springboard the recent financial crises in, specifically, Brazil, Chile, Colombia, Mexico, and Peru, showing how an increase in the issuance of public bonds to, via interventions in the exchange rate market, sterilize the effects of short-term capital flows on the monetary base is a source of endogenous instability, because this mechanism entails risks for the exchange rate and interest rate. [ABSTRACT FROM AUTHOR]