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Garcia-Herrero, Alicia, Eric Girardin y Arnoldo Lopez-Marmolejo. "Mexico’s Monetary Policy Communication and Money Markets". International Journal of Economics and Finance 11, n.º 2 (10 de enero de 2019): 81. http://dx.doi.org/10.5539/ijef.v11n2p81.
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Central bank communication is becoming a key aspect of monetary policy. How much financial markets listen and, possibly, understand Banco de Mexico’s communication on its monetary policy stance should be a key consideration for the central bank to further modernize its monetary policy toolkit. In this paper, we tackle this issue empirically by using our own index of the tone of communication based on Banco de Mexico’s speeches and statements and find that Mexican money markets do not only listen but they also understand the stance of monetary policy conveyed in the central bank’s words. Regarding the ability to listen we find that both the volatility and volume in the money market rates change right after communication from Banco de Mexico’s governing body. As for the markets’ understanding, we document a statistically significant rise in money market rates the more hawkish communication is. All in all, our results show strong evidence of effective oral and written communication from the Central Bank towards Mexico’s money markets.
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Maxfield, Sylvia. "Financial Incentives and Central Bank Authority in Industrializing Nations". World Politics 46, n.º 4 (julio de 1994): 556–88. http://dx.doi.org/10.2307/2950718.
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Institutionalist models of macroeconomic performance in advanced industrial countries focus on central bank independence. In newly industrializing countries, however, the behavioral authority of the central bank is a much more significant predictor of inflation than is legal independence, because laws there are not the source of central bank ability to create or defend macroeconomic stability. Financial structures and the incentives they create for government politicians, private bankers, and industrialists explain cross-national variation in the interest and capacity of central banks in developing countries. The greater public sector deficits are, the weaker and/or more dependent private banks are on state assistance; and the larger the portion of industry finance covered by commercial bank loans or state credits, the less likely it is that there will be an authoritative, conservative central bank. Mexico, Thailand, Brazil, and South Korea are the four country cases considered in depth.
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Ros, Jaime. "Central Bank Policies in Mexico: Targets, Instruments, and Performance". Comparative Economic Studies 57, n.º 3 (26 de marzo de 2015): 483–510. http://dx.doi.org/10.1057/ces.2015.6.
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Nodari, Gianandrea. "‘Putting Mexico on its feet again’: the Kemmerer mission in Mexico, 1917–1931". Financial History Review 26, n.º 2 (11 de junio de 2019): 223–46. http://dx.doi.org/10.1017/s0968565019000064.
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This article scrutinizes the results of the mission carried out by Edwin Walter Kemmerer in Mexico during 1917. Based on unpublished materials from his private archive, as well as other Mexican archives, this article analyses the process of approval, installation and implementation of the reforms introduced by Kemmerer's mission in Mexico. It is argued that Kemmerer's work as a financial advisor for Venustiano Carranza was not a total failure, as the existing literature on the subject claims. Indeed, on the eve of Great Depression, Mexico exhibited the main institutional features of ‘Kemmererized’ countries: a central bank, the gold standard and a centralized tax system. It is also suggested that the economic knowledge brought into the country by the money doctor moulded the ideological foundation of the new financial and economic elite of revolutionary Mexico.
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BOYLAN, DELIA M. "Democratization and Institutional Change in Mexico". Comparative Political Studies 34, n.º 1 (febrero de 2001): 3–29. http://dx.doi.org/10.1177/0010414001034001001.
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This article builds on previous work examining the incentives facing authoritarian elites to use central bank reform to constrain the economic policy choices of future governments. It suggests that because creating an autonomous agency is costly, authoritarian elites will only cede policymaking powers to an independent body commensurate with the degree of democratic threat that they face. When a transition is looming, insulation should be complete so as to tie the hands of successor governments to the greatest extent possible. But when this risk of replacement is milder, incumbent elites will be careful to design rules that continue to afford them some margin of maneuver as long as they remain in office. The Mexican central bank reform of 1993 is used as an illustration of the partial insulation strategy at work.
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Wei, Shizheng. "Analysis on the Possibility of Investment in the Mexican Emerging Market". E3S Web of Conferences 214 (2020): 02006. http://dx.doi.org/10.1051/e3sconf/202021402006.
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Emerging markets with high uncertainty and turbulent environments are always hard to predict. Unlike advanced markets that are not easy to be influenced by the external environment, emerging markets are still immature and likely to be easily affected. The Mexican peso crisis in 1994 is an example that inappropriate monetary policy was taken when the entire financial system was weak in Mexico at that time. In the global emerging market, Mexican peso plays a significant role in maintaining the stability of the foreign exchange market. This paper aims to analyze the current situation of Mexican domestic emerging markets from its economy, the monetary policy of the central bank of Mexico, and foreign exchange aspects. The analysis can provide information for potential investors to make a decision before they decide to invest in the Mexican emerging markets.
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Guerrero-García, José de Jesús, Alejandra Guadalupe Zúñiga-Magaña, Juan Carlos Barrera-De León, Rafael Magaña-Duarte y Daniel Ortuño-Sahagún. "Retrospective Study of the Seroprevalence of HIV, HCV, and HBV in Blood Donors at a Blood Bank of Western Mexico". Pathogens 10, n.º 7 (11 de julio de 2021): 878. http://dx.doi.org/10.3390/pathogens10070878.
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Obtaining blood which is safe for transfusions is one of the principal challenges in the health systems of developing countries. Supply of contaminated blood increases morbidity, mortality, and the costs of patient care. In Mexico, serological screening is mandatory, but only a few of the main blood banks routinely perform a nucleic acid test (NAT). Data from 80,391 blood donations processed between August 2018 and December 2019 at the Central Blood Bank of the Western National Medical Center of the Mexican Social Security Institute (IMSS) were analyzed. All donors were screened for serological markers and NAT was performed. Reactive donors were followed-up to confirm their results. The number of reactive donors and seroprevalence rates for HIV, HCV, and HBV were 152 (18.91/10,000), 385 (47.89/10,000), and 181 (22.51/10,000), respectively; however, these rates decreased when NAT-confirmed reactive results were considered. Male donors were found to have a higher seroprevalence than females, and younger donors higher than older donors. The present study shows that HIV, HCV, and HBV seroprevalence in blood donors in Western Mexico is low. We propose that Mexico should establish future strategies, including pathogen reduction technologies (PRTs), in order to improve blood safety and reduce transfusion-transmissible infections (TTIs).
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Irewole, Oluwasefunmi Eunice. "INFLATION AND UNEMPLOYMENT RELATIONSHIP: A DYNAMIC REPORT OF NIGERIA AND MEXICO IN THE PERSPECTIVE OF PHILLIPS CURVE FROM 1991-2016". International Journal of New Economics and Social Sciences 10, n.º 2 (31 de diciembre de 2019): 11–30. http://dx.doi.org/10.5604/01.3001.0013.8085.
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This research study investigated the relationship between unemployment and inflation in Nigeria and Mexico from 1991-2016. Secondary data were used to gather data from the World Bank database, Central Bank of Nigeria and Bank of Mexico. In order to determine the set objective, OLS and simple regression analysis of the econometric model were used. The models specified inflation as function unemployment, money supply % GDP, total Gross Formation Products. Based on the above test carried out, the study finds out that: Inflation significantly has little impact on unemployment in Nigeria both in the long – run and short – run within the period under review. In Mexico, there is actually no significant relationship between unemployment and inflation because when inflation is high, unemployment in Mexico is also high. The study shows that investors have an inverse relationship with unemployment in Mexico. There is also an inverse relationship between inflation and GDP in Mexico and Nigeria. And in regard to the findings above the study recommends that the government should use discretionary policy that would reduce unemployment by boosting the level of investment and maintaining stability in the money sup-ply as it had a positive impact on Inflation in the long run. Friedman is of the view that the increase in government spending and the rate at which economy borrows, the higher the inflation.
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Otis, Daniel, Matthieu Le Hénaff, Vassiliki Kourafalou, Lucas McEachron y Frank Muller-Karger. "Mississippi River and Campeche Bank (Gulf of Mexico) Episodes of Cross-Shelf Export of Coastal Waters Observed with Satellites". Remote Sensing 11, n.º 6 (26 de marzo de 2019): 723. http://dx.doi.org/10.3390/rs11060723.
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The cross-shelf advection of coastal waters into the deep Gulf of Mexico is important for the transport of nutrients or potential pollutants. Twenty years of ocean color satellite imagery document such cross-shelf transport events via three export pathways in the Gulf of Mexico: from the Campeche Bank toward the central Gulf, from the Campeche Bank toward the Florida Straits, and from the Mississippi Delta to the Florida Straits. A catalog of these events was created based on the visual examination of 7280 daily satellite images. Water transport from the Campeche Bank to the central Gulf occurred frequently and with no seasonal pattern. Transport from Campeche Bank to the Florida Straits occurred episodically, when the Loop Current was retracted. Four such episodes were identified, between about December and June, in 2002, 2009, 2016, and 2017, each lasting ~3 months. Movement of Mississippi River water to the Florida Straits was more frequent and showed near seasonal occurrence, when the Loop Current was extended, while the Mississippi River discharge seems to play only a secondary role. Eight such episodes were identified—in 1999, 2000, 2003, 2004, 2006, 2011, 2014, and 2015—each lasting ~3 months during summer. The 2015 episode lasted 5 months.
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Cronin, Patrick. "Explaining Free Trade: Mexico, 1985–1988". Latin American Politics and Society 45, n.º 4 (2003): 63–95. http://dx.doi.org/10.1111/j.1548-2456.2003.tb00258.x.
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AbstractThis study examines Mexico's unilateral trade liberalization experience from 1985 to 1988. It traces the origins of policy change to officials in the Central Bank, who took advantage of periodic economic crises to pursue their agenda. Opposing them were bureaucrats tied to an industrial sector that also objected to substantial trade liberalization. Mexico's institutional structures influenced the balance of bargaining power as reform supporters and opponents bitterly fought to define the scope, depth, and timing of the implementation process. Successful implementation led to the emergence of business interests in favor of free trade—interests that would provide crucial backing for the North American Free Trade Agreement.
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Conesa, Juan Carlos y Timothy J. Kehoe. "Is It Too Late to Bail Out the Troubled Countries in the Eurozone?" American Economic Review 104, n.º 5 (1 de mayo de 2014): 88–93. http://dx.doi.org/10.1257/aer.104.5.88.
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In January 1995, US President Bill Clinton organized a bailout for Mexico that imposed penalty interest rates and induced the Mexican government to reduce its debt, ending the debt crisis. Can the Troika (European Commission, European Central Bank, and International Monetary Fund) organize similar bailouts for the troubled countries in the eurozone? Our analysis suggests that debt levels are so high that bailouts with penalty interest rates could induce the eurozone governments to default rather than reduce their debt. A resumption of economic growth is one of the few ways that the eurozone crises can end.
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García Vázquez, Xóchitl Ninel. "El impulso a la formación del personal técnico para la industria mexicana: las aportaciones de Gonzalo Robles y Manuel Bravo Jiménez, 1945-1960". Tiempo y economía 8, n.º 1 (enero de 2021): 42–70. http://dx.doi.org/10.21789/24222704.1687.
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This paper seeks to reconstruct Gonzalo Robles and Manuel Bravo’s contributions in the training of technical personnel during 1945-1960, a period known as the “Mexican miracle,” when growth was based on industrial development. The dynamics of the industrial process encountered several obstacles, such as the lack of technical staff and the continuous training of the existing personnel, among others. As a result, Robles and Bravo undertook, from the Department of Industrial Research at Banco de México (central bank of Mexico), a series of research and strategies both to understand the structure of the employed technical staff and the recommendations to be made as part of national economic planning efforts.
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Kumamoto, Hisao y Masao Kumamoto. "Currency Substitution and Monetary Policy Effects: The Case of Latin American Countries". International Journal of Economics and Finance 9, n.º 2 (11 de enero de 2017): 32. http://dx.doi.org/10.5539/ijef.v9n2p32.
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In this study, we empirically investigate how currency substitution transmits foreign monetary policy shocks to domestic countries and evaluate how the central bank respond to real exchange rate movements in three inflation-targeting Latin American countries under currency substitution, namely Chile, Mexico and Peru, between 2000 and 2011. Our model is based on a small open economy dynamic stochastic general equilibrium model that incorporates currency substitution and incomplete financial markets, and we estimate it by using Bayesian estimation techniques. Our empirical results are as follows. First, the degree of currency substitution is higher in Mexico, while it is negligible in Chile and Peru, which reflects the slight differences in the parameter values capturing the preference for the domestic currency among these countries. Second, the estimated coefficients of the real exchange rate gap in the monetary policy rule are high, meaning that the central banks in these countries actively respond to real exchange rate movements to diminish real exchange rate volatility. Third, domestic monetary policy influences the domestic economy through the real interest rate channel. On the contrary, foreign monetary policy has a significant effect in Mexico, while it is insignificant in Chile and Peru. This finding suggests the potential instability of currency substitution in that slight changes in the parameter values capturing the preference for the domestic currency alter the degree of insulation from foreign monetary policy shocks.
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López-Balderas, Nayali, Jesús Hernández-Romano, Mireya Cámara-Contreras, Elidé Bravo-Sarmiento y Pablo A. Hernández-Romano. "Trends in prevalence of HIV and syphilis in a central blood bank of Veracruz, Mexico". Transfusion and Apheresis Science 58, n.º 1 (febrero de 2019): 94–99. http://dx.doi.org/10.1016/j.transci.2018.12.001.
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Staudt, Kathy. "The Central U.S.–Mexico Borderlands during the 2020 Pandemic". Borders in Globalization Review 2, n.º 1 (7 de noviembre de 2020): 104–8. http://dx.doi.org/10.18357/bigr21202019835.
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This essay begins by setting the scene of the 2020 novel coronavirus virus (COVID- 19) pandemic in the central U.S.–Mexico borderlands. The essay then outlines the pre-pandemic situation, from 2016-2019, one characterized by larger numbers of migrant arrivals from Central America, harsh U.S. anti-refugee and anti-Mexican practices, and hardened border controls. The article then discusses pandemic-linked deaths and closures of the border to all but U.S. citizens and Legal Permanent Residents and to slightly diminished cargo traffic, rising again by July and numbers of COVID-19 deaths declining thereafter. Official U.S. border rhetoric has broadened to strengthen nationalist security rationales around health, while activists push back against harsh policy practices, creating an ongoing, dynamic tension in the borderlands.
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Álvarez-Espino, Ricardo, Héctor Godínez-Álvarez y Rodolfo De la Torre-Almaráz. "Seed banking in the columnar cactusStenocereus stellatus: distribution, density and longevity of seeds". Seed Science Research 24, n.º 4 (17 de octubre de 2014): 315–20. http://dx.doi.org/10.1017/s0960258514000324.
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AbstractThe soil seed bank is the reserve of viable seeds found in the soil. This reserve contributes to plant population persistence in unpredictable environments; thus, determining its presence is basic to understanding recruitment patterns and population dynamics. Studies of soil seed banks in the Cactaceae are scarce, although these plants are ecologically dominant in American arid and semi-arid environments. Most studies have inferred the presence of seed banks by analysing morphological seed traits or germination of seeds stored in the laboratory for different periods of time. Few studies have determined their presence through evaluation of distribution, density and longevity of seeds in the field. To fill this information gap, we determined the existence of, and studied, the soil seed bank ofStenocereus stellatus, a columnar cactus endemic to central Mexico. This study reports the evaluation of these characteristics in the field and discusses whether this species forms a soil seed bank. We found a higher number of seeds under shrubs than in areas lacking vegetation. Recently dispersed seeds did not germinate because they have primary dormancy. This dormancy was broken after 6 months of burial in the soil. Seeds buried for 10 months entered secondary dormancy and they were not viable at 24 months, probably because of pathogen attack. Considering dormancy and seed longevity, we suggest thatS. stellatushas the potential to form a short-term persistent seed bank. However, this should be confirmed by conducting studies on otherS. stellatuspopulations throughout their geographical distribution.
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Rodríguez-Domínguez, Miguel, Xyoli Pérez-Campos, Conrado Montealegre-Cázares, Robert W. Clayton y Enrique Cabral-Cano. "Crustal structure variations in south-central Mexico from receiver functions". Geophysical Journal International 219, n.º 3 (3 de octubre de 2019): 2174–86. http://dx.doi.org/10.1093/gji/ggz434.
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Summary Mexico has a complex geological history that is typified by the distinctive terranes that are found in the south-central region. Crustal thickness variations often correlate with geological terranes that have been altered by several processes in the past, for example aerial or subduction erosion, underplating volcanic material or rifting but few geophysical studies have locally imaged the entire continental crust in Mexico. In this paper, the thickness of three layers of the crust in south-central Mexico is determined. To do this, we use P- and S-wave receiver functions (RF) from 159 seismological broad-band stations. Thanks to its adaptive nature, we use an empirical mode decomposition (EMD) algorithm to reconstruct the RFs into intrinsic mode functions (IMF) in order to enhance the pulses related to internal discontinuities within the crust. To inspect possible lateral variations, the RFs are grouped into quadrants of 90°, and their amplitudes are mapped into the thickness assuming a three-layer model. Using this approach, we identify a shallow sedimentary layer with a thickness in the range of 1–4 km. The upper-crust was estimated to be of a few kilometers (<10 km) thick near the Pacific coast, and thicker, approximately 15 km in central Oaxaca and under the Trans-Mexican Volcanic Belt (TMVB). Close to the Pacific coast, we infer a thin crust of approximately 16 ± 0.9 km, while in central Oaxaca and beneath the TMVB, we observe a thicker crust ranging between 30 and 50 km ± 2.0 km. We observe a crustal thinning, of approximately 6 km, from central Oaxaca (37 ± 1.9 km) towards the Gulf of Mexico, under the Veracruz Basin, where we estimate a crustal thickness of 31.6 ± 1.9 km. The boundary between the upper and lower crust in comparison with the surface of the Moho do not show significant variations other than the depth difference. We observe small crustal variations across the different terranes on the study area, with the thinnest crust located at the Pacific coast and Gulf of Mexico coast. The thickest crust is estimated to be in central Oaxaca and beneath the TMVB.
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Stockman, Alan C. "Optimal Central Bank Areas, Financial Intermediation, and Mexican Dollarization". Journal of Money, Credit and Banking 33, n.º 2 (mayo de 2001): 648. http://dx.doi.org/10.2307/2673921.
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ORTEGA-FLORES, BERLAINE, LUIGI A. SOLARI y FELIPE DE JESÚS ESCALONA-ALCÁZAR. "The Mesozoic successions of western Sierra de Zacatecas, Central Mexico: provenance and tectonic implications". Geological Magazine 153, n.º 4 (17 de diciembre de 2015): 696–717. http://dx.doi.org/10.1017/s0016756815000977.
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AbstractCentral Mexico was subject to active tectonics related to subduction processes while it occupied a position in western equatorial Pangea during early Mesozoic time. The subduction of the palaeo-Pacific plate along the western North American and South American active continental margins produced volcanic arc successions which were subsequently rifted and re-incorporated to the continental margin. In this context, the fringing arcs are important in unravelling the continental accretionary record. Using petrographic analysis, detrital zircon geochronology and structural geology, this paper demonstrates that the Guerrero Arc (Guerrero Terrane) formed on top of a felsic volcaniclastic unit (Middle Jurassic La Pimienta Formation) and siliciclastic strata (Upper Triassic Zacatecas Formation and Arteaga Complex) of continental Mexican provenance, deposited across the continental margin and oceanic substrate. This assemblage was rifted away from continental Mexico to form an intervening oceanic assemblage (Upper Jurassic – Lower Cretaceous Las Pilas Volcanosedimentary Complex of the Arperos Basin), then accreted back more or less at the same place, all above the same east-dipping subduction zone. The accretion of the Guerrero Arc to the Mexican continental mainland (Sierra Madre Terrane) caused the deposition of a siliciclastic unit (La Escondida Phyllite), which recycled detritus from the volcaniclastic and siliciclastic underlying strata.
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Basiuk, VladimirA. "Mastophora corpulenta (Banks) Bolas Spider (Araneae: Araneidae) in Central Mexico". Journal of Advanced Microscopy Research 11, n.º 2 (1 de diciembre de 2016): 156–60. http://dx.doi.org/10.1166/jamr.2016.1308.
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Montellano-Ballesteros, Marisol. "New Cuvieronius finds from the Pleistocene of central Mexico". Journal of Paleontology 76, n.º 3 (mayo de 2002): 578–83. http://dx.doi.org/10.1017/s0022336000037410.
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In the southern part of the State of Puebla, central Mexico, the town of Tepexi de Rodriguez is a well-known fossiliferous area because of the beautiful and extraordinary Early Cretaceous vertebrates recovered from the Tlayua Quarry (Applegate, 1996; Espinosa-Arrubarrena and Applegate, 1996; Reynoso-Rosales, 1996a, 1996b, 1997, among others), and a Tertiary plant locality known as “Los Ahuehuetes” (Magallón-Puebla and Cevallos-Ferriz, 1994; Velasco de León and Cevallos-Ferriz, 1997; Ramírez-Garduño, 1998, among others). The Axamilpa river drains this area and along its banks a sequence of Late Cenozoic sands, silts, and gravels are exposed. In these sediments scattered fossil mammalian remains had been recovered (Torres-Martínez and Agenbroad, 1991; Montellano-Ballesteros and Castro-Azuara, 1996; Fig. 1).
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Conway, Richard. "Spaniards in the Nahua City of Xochimilco: Colonial Society and Cultural Change in Central Mexico, 1650–1725". Americas 71, n.º 1 (julio de 2014): 9–35. http://dx.doi.org/10.1353/tam.2014.0077.
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In 1650, a Nahua noble named don Martín Cerón y Alvarado set down his last wishes in a codicil. Eminent but now elderly and frail, don Martin had served many times as governor of the central Mexicanaltepetl(ethnic state) of Xochimilco. Located by the lakes to the south of Mexico City, Xochimilco was a prominent and populous polity, renowned for its bountiful wetland agriculture. Such was its size and economic vitality that Spanish authorities, under King Philip II, decided to award it superior municipal status as a city—one of just four such designations in the basin of Mexico. In keeping with his position as the dynastic ruler of a prestigious alteped, don Martin was a lord of the highest social rank. He could trace his exalted lineage back to Acamapichtli, the Mexica forebear of the Aztec emperor Moteuhcçoma Xocoyotzin. By 1650, though, don Martin was the last of his kind. No person in Xochimilco would again hold his honorific title,tlatoani(dynastic ruler). His codicil and an earlier will and testament, both written in Nahuatl, marked the passing of an era.
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Kraker-Castañeda, Cristian, Lázaro Guevara, Consuelo Lorenzo, Jorge Bolaños-Citalán y Elida M. Leiva-González. "New collection locality of Cryptotis tropicalis (Merriam, 1895) (Eulipotyphla: Soricidae) in the south lowlands of Guatemala, Central America". Mammalogy Notes 5, n.º 1 (15 de enero de 2018): 22–25. http://dx.doi.org/10.47603/manovol5n1.22-25.
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In January 2013, we carried out a mammal inventory in the south lowlands of Guatemala (elevation below 500 m), in the south slope of the Tecuamburro Volcano, in Taxisco, Santa Rosa. The area is immersed in Subtropical Very Wet Forest (Castañeda 2008). We captured a male adult shrew in a pitfall container located within a riparian forest, following the river bank locally known as El Pajal, at 410 msnm (14,119N, -90,505W). The specimen was collected, and prepared as dried skin and skull following the protocols of The Animal Care and Use Committee (Gannon et al. 2007). As a collaboration agreement, it was housed as voucher in the Mammals Collection of El Colegio de la Frontera Sur, San Cristóbal de Las Casas, Mexico
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López Martín, Bernabé, Alberto Ramírez de Aguilar y Daniel Sámano Peñaloza. "CONSIDERACIONES SOBRE POLÍTICA FISCAL Y EXPECTATIVAS DE INFLACIÓN EN MÉXICO". Investigación Económica 79, n.º 312 (24 de marzo de 2020): 63. http://dx.doi.org/10.22201/fe.01851667p.2020.312.75372.
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<p>Este documento estima para México el modelo de Sargent, Williams y Zha (2009) en el cual la inflación se determina a partir de déficits fiscales financiados mediante expansiones monetarias, así como por las expectativas de inflación. La estimación del modelo sugiere que la evolución histórica de los déficits fiscales es clave para explicar la dinámica de la inflación en México. Hasta antes de la autonomía del Banco de México en abril de 1994, el modelo sugiere que la monetización de estos déficits habría determinado la dinámica de la inflación en México. Posteriormente, se encuentra evidencia que sugiere la presencia de canales indirectos a través de los cuales los déficits fiscales vía ajustes en la prima por riesgo soberano y en el tipo de cambio nominal aún han tenido cierto impacto sobre las expectativas de inflación. Esto último resalta la importancia de la disciplina fiscal, en adición a la autonomía del Banco Central, para preservar un entorno de estabilidad de precios.</p><p><strong> </strong></p><p align="center">CONSIDERATIONS REGARDING FISCAL POLICY AND INFLATION EXPECTATIONS IN MEXICO</p><p align="center"><strong>ABSTRACT</strong><strong></strong></p>This document estimates the model of Sargent, Williams y Zha (2009) in which inflation is determined by fiscal deficits financed through monetary expansions as well as inflation expectations. The estimation of the model suggests that the historical evolution of fiscal deficits is key to explaining the dynamics of inflation in our country. Before the autonomy of the Bank of Mexico in April 1994, the model suggests that the monetization of these deficits would have determined the dynamics of inflation in Mexico. Subsequently, evidence is found that suggests the presence of indirect channels through which fiscal deficits via adjustments in the sovereign risk premium and in the nominal exchange rate have still had some impact on inflation expectations. The latter highlights the importance of fiscal discipline, in addition to the autonomy of the Central Bank, to preserve an environment of price stability.<p> </p>
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Clarida, Richard H. "Comment on Optimal Central Bank Areas, Financial Intermediation, and Mexican Dollarization". Journal of Money, Credit and Banking 33, n.º 2 (mayo de 2001): 667. http://dx.doi.org/10.2307/2673922.
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Castillo Polanco, Luis Alfredo y Ted P. Ted P. "The process of endogenous liquidity in developing economies: the case of Mexico". Review of Keynesian Economics 7, n.º 3 (julio de 2019): 369–87. http://dx.doi.org/10.4337/roke.2019.03.07.
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The Post-Keynesian theory of endogenous money is typically used to explain the operations in advanced economies like the US. While the core ideas are relevant for all market economies, developing economies have additional features which complicate the process. These may include: the local currency is not accepted as a means of payment for international transactions, so the banking system (including the central bank) requires foreign currency reserves (balance-of-payments constraint); hard currency reserves are needed to provide ‘credibility’ for circulation of domestic currency; stock and bond markets are not well developed, so other financial instruments are necessary to complete the finance-funding process; and institutional differences regarding monetary control. We use the case of Mexico to show how these features of developing economies can complicate the endogenous-money process. For Mexico the process is constrained by the use of the US dollar as both a store of value and a reserve for the banking system. As a consequence, the interest rate is determined by the demand for the alternative sources of liquidity creation, and therefore a credit-financed expansion will necessitate an increase in the interest rate which can lead to a recession or other crisis scenarios.
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Cadena-Iñiguez, Jorge, Carlos Hugo Avendaño-Arrazate, Ma de Lourdes Arévalo-Galarza, Víctor Manuel Cisneros-Solano, Lucero del Mar Ruiz-Posadas, Juan Francisco Aguirre-Medina, Kazuo Watanabe, Ryoko Machida-Hirano y Luís Angel Barrera-Guzmán. "Varietal Descriptors for the Distinction of Underutilized Varieties of Sechium edule (Jacq) Swartz". Plants 11, n.º 23 (30 de noviembre de 2022): 3309. http://dx.doi.org/10.3390/plants11233309.
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Sechium edule (Jacq.) Sw. (Cucurbitaceae) is a species native to Mexico and Central America. The collection, characterization, and evaluation of accessions maintained in genebanks is essential for the conservation of this species. However, there are no specific varietal descriptors that differ from those used in a phenetic approach and are adapted to international registration guidelines to help distinguish, improve, cluster, and protect intraspecific variants of common use and those obtained by breeding. Therefore, 65 morphological descriptors (qualitative and quantitative) were evaluated in 133 accessions obtained from Mexico, Guatemala, and Costa Rica located in the National Germplasm Bank of S. edule in Mexico. These characteristics were observed to be phenetically stable for five generations under the same agroclimatic conditions. In addition, an analysis of amplified fragment length polymorphism (AFLP) was applied to 133 samples from a set of 245 accessions. According to the multivariate analysis, 26 of the 65 descriptors evaluated (qualitative and quantitative) enabled differentiation of varieties of S. edule. The AFLP analysis showed a high level of polymorphism and genetic distance between cultivated accessions and their corresponding wild ancestor. The variations in S. edule suggest that the morphological characteristics have differentiated from an essentially derived initial edible variety (ancestral original variety), but unlike other cucurbits, there is no evidence of the ancestral edible for Sechium since the seed is unorthodox and there are no relicts.
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FERNÁNDEZ, BEGOÑNA FERNÁNDEZ y PATRICIA SAAVEDRA BARRERA. "VALUATION AND OPTIMAL EXERCISE TIME FOR THE BANXICO PUT OPTION". International Journal of Theoretical and Applied Finance 06, n.º 03 (mayo de 2003): 257–75. http://dx.doi.org/10.1142/s021902490300189x.
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Since 1996, the Central Bank of México issues a put option in order to buy American Dollars as a way of increasing its international reserves. This is an exotic option that gives the right to the Mexican banks to sell this currency to the Central Bank at the price of the day before the date of exercise. The option has a maturity of one month and can be exercised on any day during this period, subject to an additional condition that depends on the average price of the Dollar during the previous 20 days. In this work we study the valuation and the optimal time of exercise of this option under the Binomial and the Black–Scholes Models. The optimal time of exercise is found for the Binomial model and a rule of exercise is proposed for the Black–Scholes Model. Numerical results are included to illustrate the performance of this rule of exercise.
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Strozzi, Tazio, Dora Carreon-Freyre y Urs Wegmüller. "Land subsidence and associated ground fracturing: study cases in central Mexico with ALOS-2 PALSAR-2 ScanSAR Interferometry". Proceedings of the International Association of Hydrological Sciences 382 (22 de abril de 2020): 179–82. http://dx.doi.org/10.5194/piahs-382-179-2020.
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Abstract. Land subsidence affects highly developed urban areas in central Mexico, where inhabitants rely on groundwater for about 60 % of water supply and most of the cities are located in volcanic valleys filled with fine and coarse grained sediments. Compaction associated to groundwater depletion in areas with subsoil contacts sediments-rock have caused differential subsidence, ground fracturing and eventually the reactivation of pre-existing faults, depending on the local geological setting. Remote sensing monitoring methods of land deformation have proved to be useful tools to assess this geological hazard for urban planning. We used L-band ScanSAR data from the ALOS-2 PALSAR-2 mission to produce a regional land subsidence map over an area of about 350 km × 350 km over central Mexico. Our results indicate with a remarkable spatial coverage widespread land subsidence over the major cities, which is ranging from more than 30 cm yr−1 in Mexico City to 5–10 cm yr−1 in other locations.
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Belmont, Jafet, María E. Sánchez-Coronado, Helia R. Osuna-Fernández, Alma Orozco-Segovia y Irene Pisanty. "Priming effects on seed germination of two perennial herb species in a disturbed lava field in central Mexico". Seed Science Research 28, n.º 1 (25 de enero de 2018): 63–71. http://dx.doi.org/10.1017/s0960258518000016.
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AbstractPriming has proved to enhance seed germination, but most of the research dealing with this topic has been carried out with cultivated species. The potential applications that this process has on wild species, which can be useful for restoration, are usually overlooked. This study analyses the germination response after natural priming and hydropriming of Penstemon roseus and Castilleja tenuiflora, two perennial herbs growing in a protected area known as ‘Parque Ecológico de la Ciudad de México’. Photoblastism was evaluated for both species. Seeds were exposed to a hydration/dehydration cycle and then placed in germination chambers to determine responses to hydropriming. To identify the effects of natural priming, seeds were buried in natural conditions and then recovered every two months and placed in germination chambers. Germination percentages and rates were then quantified. Both species proved to have permeable seed coats. Penstemon roseus seeds are positive photoblastic whereas C. tenuiflora seeds are indifferent to light. Priming methods increased C. tenuiflora germination rates, but they did not affect germination capacity. For P. roseus, priming methods did not improve germination rates, and germination capacity of recovered seeds decreased after the rainy season, suggesting that P. roseus forms a short-term, transient, seed bank. The germination strategies of these two species allow them to occupy suitable microsites for germination and establishment. These responses can be helpful in developing restoration programmes based on the accelerated establishment of native and characteristic successional species.
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Carrico, Christian M. y Jaimy Karacaoglu. "Impacts of a Prescribed Fire on Air Quality in Central New Mexico". Atmosphere 14, n.º 2 (5 de febrero de 2023): 316. http://dx.doi.org/10.3390/atmos14020316.
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A short-duration but high-impact air quality event occurred on 28 November 2018 along the Rio Grande Valley of New Mexico. This fire occurred outside the typical wildfire season, and greatly impacted the air quality in Socorro, NM, and the surroundings. Measurements were taken during the event using an aerosol light scattering technique (integrating nephelometer) and a particulate mass concentration monitor (DustTrak PM optical monitor). The instruments sampled the ambient air during the event on the campus of the New Mexico Institute of Mining and Technology in Socorro, New Mexico. The peak values on a 5-min basis of light scattering and the PM mass concentration reached 470 Mm−1 and 270 µg/m3, respectively. We examined the meteorological context of the event using local meteorological data and back trajectories using the NOAA HYSPLIT model to determine atmospheric transport and possible sources. Several fires, both prescribed and wildfires, occurred in the region including a prescribed burn at Bosque del Apache National Wildlife Refuge (17 km south-southeast of the receptor site). The data suggest that the prescribed burn at Bosque del Apache was the dominant contributor due to transport evidence and the event’s narrow spatiotemporal extent. The increasing importance of restoring ecosystem function using prescribed fire in wildland fire management will likely lead to more frequent air quality impacts and sets up policy tradeoffs that require a balance between these public goals. This study examines the evidence of the effects of a prescribed fire in a protected wildland area impacting the air quality in a nearby populated area.
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Alvarez-Aquino, Claudia, Laura Barradas-Sánchez, Oscar Barradas-Sánchez y Guadalupe WILLIAMS-LINERA. "SOIL SEED BANK, SEED REMOVAL, AND GERMINATION IN A SEASONALLY DRY TROPICAL FOREST IN VERACRUZ, MEXICO". Botanical Sciences 92, n.º 1 (9 de junio de 2014): 111. http://dx.doi.org/10.17129/botsci.42.
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<p> </p><p><object id="ieooui" classid="clsid:38481807-CA0E-42D2-BF39-B33AF135CC4D"></object><span style="color: black;" lang="EN-US">The soil seed bank has a limited role in the seasonal dry tropical forest regeneration process, but seed removal and germination can also be limiting factors during the early forest recovery. In central Veracruz, Mexico, the soil seed bank was determined en five fallows and two forests. </span><span lang="EN-US">Seed bank decreased from fallow to forest (1303 to 101 seeds m<sup>-2</sup>); herbs and grasses predominated thus the similarity between species composition of seed bank and vegetation was low. Seed removal and germination were evaluated for <span class="hps"><em style="mso-bidi-font-style: normal;">Acacia</em></span><em style="mso-bidi-font-style: normal;"> cochliacantha, Caesalpinia <span class="hps">cacalaco, </span>Ipomoea <span class="hps">wolcottiana </span></em><span class="hps">and <em style="mso-bidi-font-style: normal;">Senna atomaria</em> in contrasting habitats represented by pasture, fallow and forest. Seed removal was determined under treatments of total access, rodent exclosure, and insect exclosure. </span><em style="mso-bidi-font-style: normal;">Caesalpinia </em>(largest seeds) displayed the lowest seed removal (5%), whereas <em style="mso-bidi-font-style: normal;">Senna</em> (63%) and <em style="mso-bidi-font-style: normal;">Ipomoea</em> (29%) displayed the highest. Rodent exclosure reduced seed removal for <em style="mso-bidi-font-style: normal;">Ipomoea </em>(medium-sized seeds); and insect exclosure reduced removal for <em style="mso-bidi-font-style: normal;">Senna</em> and <em style="mso-bidi-font-style: normal;">Acacia</em> (small seeds). With the exception of Senna (18% germination), the scarified seeds displayed the highest germination percentage (53-99%). For all species, germination was higher in forest than in open habitats, only <span class="hps"><em style="mso-bidi-font-style: normal;">Senna</em></span> seeds displayed the lowest germination percentage in the forest habitat. Results suggested that in the dry forest of Veracruz, seed removal may not limit forest regeneration; however seeds must be scarified for use in restoration activities.</span></p><p class="MsoNormal" style="line-height: 200%;"><span style="color: black;" lang="EN-US"> </span></p><p> </p><p> </p>
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García-Martínez, Rocío, Alejandro Carrillo-Chavez, Ricardo Torres-Jardón, Alejandro Ramirez-Guzmán y Moisés López-Carrasco. "Chemical composition of rainwater collected from 2006 to 2009 in Mexico City and at a rural site at Morelos State, south central Mexico". Revista Mexicana de Ciencias Geológicas 37, n.º 1 (31 de marzo de 2020): 1–8. http://dx.doi.org/10.22201/cgeo.20072902e.2020.1.1101.
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The objective of the study was to evaluate the chemical composition of rainwater in urban and suburban areas of central Mexico to identify the possible sources of rainwater contamination. The rainwater was collected at Universidad Nacional Autónoma de Mexico, Campus Ciudad Universitaria (CU), in the southern part of Mexico City at 2200 meters above sea level (m a.s.l.). CU has many green areas with high to moderate traffic densities where air quality presents serious problems of pollution by particulate matter. The other sampling site is a forested rural area (Tlalnepantla), State of Morelos, Mexico, a suburban area 86 km to the south of Mexico City. A total of 145 rainwater samples were collected in the rain period from 2006 to 2009. The ions analyzed were the following: SO42-, NO3-, Cl-, HCO3-, Na+, K+, Ca2+, Mg2+, NH4+ and H+. Ammonium was the most abundant cation in both sites and is one of those responsible for the neutralization of acidic compounds in the atmosphere. The relative abundance of the inorganic anions present in the rainwater was in the following order: SO42- > NO3- > Cl-, for the alkaline metals the order was Ca2+ >Mg2+ > Na+ > K+ and Ca2+ >Mg2+ >K+ >Na+ for CU and Morelos, respectively. A correlation analysis shows a strong positive correlation among the ions, indicating that the most important source was anthropogenic. Air mass back trajectories were associated with the SO42-, Ca2+, Mg2+, NH4+ and H+ concentrations observed on each rainy day. Four factors were used in the statistic analysis and was weighted within each factor. Weights greater than 0.5 are considered to be significant components of each factor. The four factors explain 84.7 % of the total variance of all of the data for CU and 66.9 % for Morelos. All of these factors were associated with all of the analyzed ions. Air pollutant back trajectories were used to understand atmospheric transport and to identify the origins and pathways of air masses influencing the concentrations of the measured ions in rainwater.
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Cunningham, Robert, John W. Snedden, Ian O. Norton, Hilary Clement Olson, Timothy L. Whitaker y Jonathan W. Virdell. "Upper Jurassic Tithonian-centered source mapping in the deepwater northern Gulf of Mexico". Interpretation 4, n.º 1 (1 de febrero de 2016): SC97—SC123. http://dx.doi.org/10.1190/int-2015-0093.1.
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Long the subject of speculation, the origin, distribution, and quality of Mesozoic source beds in the deepwater Gulf of Mexico (GOM) are now open to analytical study and hypothesis. We have developed new maps and concepts for organic richness and lithofacies patterns of the primary Upper Jurassic oil-prone source rock interval spanning the Kimmeridgian to Lower Berriasian in the northern GOM. This interval, previously referred to as the Tithonian-centered source, includes the Haynesville and Bossier shales, which lie within supersequences representing second-order transgressive and high-stand systems tracts, respectively. A newly developed gulf-wide Cotton Valley-Bossier paleogeographic map based on a novel paleotectonic model for the Mesozoic provides the framework for this source mapping study. Organic richness averages up to 4.7% and 6.5% total organic carbon for the Kimmeridgian and Tithonian-Lower Berriasian supersequences, respectively, based on the log overlay [Formula: see text] technique and increases toward the basin center. Lithofacies-sensitive geochemical parameters from reservoired oils and oil seeps tied to the Tithonian-centered oil family demonstrate several potential entry locations for siliciclastic sediments into the Tithonian distal calcareous environment. The region from Garden Banks to Alaminos Canyon appears to be the locus of siliciclastic mixing with carbonates in the deepwater and link with updip evidence of a wide progradational clastic apron sourced by the paleo-Mississippi river. This siliciclastic input may contribute to the potential for improved oil quality by lowering the content of sulfur incorporated into kerogen moving southwest from Ewing Bank-Mississippi Canyon to Alaminos Canyon. Ultimately, enhanced Upper Jurassic source deposition ended with a ventilation event whereby more oxygenated, deeper water entered the northern GOM. Declines in calculated total organic carbon occurring later to the west during the earliest Cretaceous (Berriasian) indicate the opening of the gateway between the GOM and the central Atlantic possibly related to the termination of seafloor spreading in the eastern GOM.
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Keipi, Kari. "Inter-American Development Bank assistance for forest conservation and management in Latin America and the Caribbean". Forestry Chronicle 71, n.º 4 (1 de agosto de 1995): 508–13. http://dx.doi.org/10.5558/tfc71508-4.
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Latin America and the Caribbean have more than half of the world's tropical forests. The rate of deforestation is high: some 7.5 million ha of forest disappear yearly. Central America and Mexico have the highest rates of deforestation; 1.6% of the remaining forests are being destroyed annually.The Inter-American Development Bank has analyzed the causes of deforestation and launched actions that contribute to curbing it both directly and indirectly. The actions include helping the countries to set appropriate sectoral and macroeconomic policies in order to remove factors that cause degradation of natural resources. The Bank has long been a financial resource deployer but it is gaining importance also as a resource mobilizer. The total IDB forestry-related loan funding amounts to some US$ 843 million for programs with a total cost of US$1980 million during the past 20 years.The Bank has been a strategic investor in highly visible projects such as the creation of parks and extractive reserves in the Amazon. It has provided financing to protect and manage some 4.7 million ha of existing forests sustainably. It is an important source of financing for recovering deforested areas through agroforestry investments and reforestation especially in degraded watersheds, but also in the context of coastal resources management and urban greening. The total reforestation goal for Bank financed projects is some 0.8 million ha.The Bank also finances other actions that are essential to proper protection and management of forest resources such as land use zoning studies, forest resource inventories, research, environmental education and institution building. Total Bank nonreimbursable technical cooperation financing was US$31 million for 72 projects during the last 15 years.There is a need to create an atmosphere of collaboration between the North and South in natural resource management and environmental matters. The IDB has been quite successful in this role through organizing new commissions for cooperation and a tradition of consultations in the region. It is maintaining transparency through its information disclosure policy that helps make information on the environmental aspects of bank programs available to interested parties. The Bank is promoting public participation in the design and execution of programs that it finances. Key words: International financing, deforestation, sustainability, Latin America, The Caribbean
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Sturges, Wilton y Kern E. Kenyon. "Mean Flow in the Gulf of Mexico". Journal of Physical Oceanography 38, n.º 7 (1 de julio de 2008): 1501–14. http://dx.doi.org/10.1175/2007jpo3802.1.
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Abstract Several independent data sources suggest that there is a net upper-layer mass flux O(3 Sv) (Sv ≡ 106 m3 s−1) to the west in the central Gulf of Mexico, even though the western gulf is a closed basin. A plausible explanation is that this net flux is pumped downward by the convergent wind-driven Ekman pumping, as is typical of all midlatitude anticlyclonic gyres. The downward flux can follow isopycnals to depths O(500–600 m) and deeper by eddy mixing; a mechanism for forcing deep water to the south through the Yucatan Channel is provided by the intrusion and ring-shedding cycle of the Loop Current. Potential vorticity maps show that a deep flow from the western gulf back to the Yucatan Channel is likely.
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Méndez-Rodríguez, Aline, Javier Juste, Alejandro Centeno-Cuadros, Flor Rodríguez-Gómez, Alejandra Serrato-Díaz, Juan Luis García-Mudarra, Luis Manuel Guevara-Chumacero y Ricardo López-Wilchis. "Genetic Introgression and Morphological Variation in Naked-Back Bats (Chiroptera: Mormoopidae: Pteronotus Species) along Their Contact Zone in Central America". Diversity 13, n.º 5 (30 de abril de 2021): 194. http://dx.doi.org/10.3390/d13050194.
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Two sibling bare-backed bat species (Pteronotus fulvus and P. gymnonotus) have been traditionally differentiated by their size. However, intermediate specimens between the two species have been found in sympatric populations along southern Mexico and it has been suggested that they may be the outcome of a hybridization process between the two species. We used one mitochondrial (COI), three nuclear markers (PRKCL, STAT5A and RAG2) and 13 microsatellites to explore the evolutionary relationships between these two species and elucidate whether the intermediate morphotypes correspond to hybrid individuals. These markers have been analyzed in sympatric and allopatric populations of the two species plus the closely related species Pteronotus davyi. We confirmed the species-level differentiation of the three lineages (P. fulvus, P. davyi and P. gymnonotus), but the phylogenetic hypotheses suggested by the nuclear and mitochondrial markers were discordant. We confirm that the discordance between markers is due to genetic introgression through the mitochondrial capture of P. fulvus in P. gymnonotus populations. Such introgression was found in all P. gymnonotus specimens across its sympatric distribution range (Mexico to Costa Rica) and is related to expansion/retraction species distribution pulses associated with changes in forest distribution during the Quaternary climate cycles. Microsatellite analyses showed contemporary genetic contact between the two sympatric species and 3.0% of the samples studied were identified as hybrids. In conclusion, we found a historical and asymmetric genetic introgression (through mitochondrial capture) of P. fulvus into P. gymnonotus in Mexico and Central America and a limited contemporary gene exchange between the two species. However, no relationship was found between hybridization and the intermediate-sized specimens from southern Mexico, which might likely result from a clinal variation with latitude. These results confirm the need for caution when using forearm size to identify these species in the field and when differentiating them in the laboratory based on mitochondrial DNA alone.
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Solano, Priscilla y Douglas S. Massey. "Migrating through the Corridor of Death: The Making of a Complex Humanitarian Crisis". Journal on Migration and Human Security 10, n.º 3 (septiembre de 2022): 147–72. http://dx.doi.org/10.1177/23315024221119784.
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Drawing on the concept of a “complex humanitarian crisis,” this paper describes how outflows of migrants from Central America were transformed into such a crisis by intransigent immigration and border policies enacted in both Mexico and the United States. We describe the origins of the migration in U.S. Cold War interventions that created many thousands of displaced people fleeing violence and economic degradation in the region, leading to a sustained process of undocumented migration to the United States. Owing to rising levels of gang violence and weather events associated with climate change, the number of people seeking to escape threats in Central America has multiplied and unauthorized migration through Mexico toward the United States has increased. However, the securitization of migration in both Mexico and the United States has blocked these migrants from exercising their right to petition for asylum, creating a growing backlog of migrants who are subject to human rights violations and predations both by criminals and government authorities, leading migrants to label Mexican routes northward as a “corridor of death.” We draw on data from annual reports of Mexico's Red de Documentación de las Organizaciones Defensoras de Migrantes (Network for the Documentation of Migrant Defense Organizations) to construct a statistical profile of transit migrants and the threats they face as reported by humanitarian actors in Mexico. These reports allow us to better understand the practical realities of the “complex humanitarian crisis” facing undocumented migrants, both as unauthorized border crossers and as transit migrants moving between the southern frontiers of Mexico and the United States. Policy Recommendations Policy makers need to address: Governments must recognize that the humanitarian crisis facing migrants is not confined to border regions but unfolds at places of both origin and destination as well as within extended geographies of transit in-between. The current refugee protection regime and asylum system are ill-matched to the needs and vulnerabilities of today's migrants. In an era of rapid climate change, rising state failures, and escalating violence, people are not moving so much to advance economically as to escape a growing array of threats not covered by the 1951 Refugee Convention, which needs to be updated. Developed nations must honor rather than elide their obligations under international law to accept asylum applicants and fairly adjudicate their cases, Since a large fraction of the Central Americans arriving at the southern US border have relatives in the United States, creating a pathway to legal status for unauthorized US residents would relieve a lot of the pressure on the asylum system by enabling authorities to release applicants to the support and care of legally resident relatives rather than placing them in an overburdened detention system. Governments need to scale back the securitization and criminalization of migration, which have made human mobility an increasingly precarious and risk-filled activity that contributes to rather than forestalls the proliferation of crime and violence. Human rights and humanitarian agencies need to revisit their missions to derive new ways of working conjointly and in parallel with each other and with governments to better understand and meet the needs of migrants in the 21st century.
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Holland, Dawn, Ray Barrell, Tatiana Fic, Sylvia Gottschalk, Ian Hurst, Iana Liadze y Ali Orazgani. "Exchange rate realignments and risks of deflation in North America". National Institute Economic Review 206 (octubre de 2008): 83–86. http://dx.doi.org/10.1177/0027950108099848.
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The US dollar has strengthened in recent months against most major currencies, with the exception of the yen. It has also gained strength against emerging market currencies, and the US effective exchange rate has appreciated by just over 7 per cent in the past three months. Emerging market declines have been exacerbated in recent weeks by the turbulence on financial markets that has forced stock markets to interrupt trading on several occasions. Figure 13 shows effective exchange rates for the US, Canada, Mexico and Brazil. Central banks in Mexico and Brazil have intervened in currency markets in recent weeks to stem the decline of their currencies, which have dropped against the dollar by nearly 20 per cent in the case of Mexico and 40 per cent in Brazil since the beginning of September. If stock market trading stabilises, much of these losses should prove temporary. Our forecast assumes that a depreciation of 10 per cent in effective terms in the Brazilian real and 5 per cent in the Mexican peso is sustained. While this raises the inflationary outlook for these economies, gains in competitiveness will help moderate the impact of the global recession on Latin American economies. However, a more sustained depreciation will put the banking systems in these countries at risk as it becomes increasingly difficult to service debt in foreign currency.
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Torres-Velásquez, E. Diane, Christine E. Sleeter y Augustine F. Romero. "Martínez v. State of New Mexico and Multicultural Education: Divide and Conquer? We Don’t Think So!" Association of Mexican American Educators Journal 13, n.º 3 (18 de diciembre de 2019): 170. http://dx.doi.org/10.24974/amae.13.3.457.
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Martínez v. State of New Mexico (2014) is a school finance and equity lawsuit built on the promises of the state constitution. The plaintiffs are 51 parents and their children across seven regions of the state (Torres-Velásquez, 2017). In its decision (Martínez, 2018), the Court determined that the state’s public education system was unconstitutional for not providing a sufficient education to the state’s “at-risk” students: students from economically disadvantaged homes, Native American students, English language learners, and students with disabilities. The Court ruled in favor of the plaintiffs on all 174 Martínez allegations and determined that legislators would create remedies and locate funding. From the earliest draft, the Martínez complaint maintained that the state was not following New Mexico’s Bilingual Multicultural Education Act (1973), Indian Education Act (2006) or Hispanic Education Act (2010). The plaintiffs wanted full implementation of these laws. A legislator asked, “If you had to pick one, bilingual education or multicultural education, which would you say is most important?” Both are central to student well-being and success. In order to address the question of priority—both being central to student success—we highlight core components of multicultural education for PreK-12 public education. We tie policy and practice recommendations back to the trial and to the Court decision and we suggest that a multicultural education curriculum is an integral part of a promising education for New Mexico’s students.
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MARTÍN, PAOLA RUEDA, FRANCOIS-MARIE GIBON y CARLOS ISRAEL MOLINA. "The genus Oecetis McLachlan in Bolivia and northwestern Argentina (Trichoptera: Leptoceridae), with new species and identification key for males of Oecetis species from Mexico, Central and South America". Zootaxa 2821, n.º 1 (15 de abril de 2011): 19. http://dx.doi.org/10.11646/zootaxa.2821.1.2.
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Six new species of Oecetis are described from Bolivia: O. carlibanezae, O. chipiriri, O. dominguezi, O. oberdorffi, O. pseudoamazonica and O. traini. Eight previously described species are recorded from Bolivia and northwestern Argentina: O. amazonica (Banks 1924), O. avara (Banks 1895), O. exisa Ulmer 1907, O. inconspicua (Walker 1852), O. knutsoni Flint 1981, O. paranensis Flint 1982a, O. punctipennis (Ulmer 1905) and O. rafaeli Flint 1991b. This work contains an identification key for males of Oecetis species from Mexico, Central and South America.
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Arzate, Jorge, Pierre Lacan, Fernando Corbo-Camargo, Claudia Arango-Galván, Rafael Felix-Maldonado, Jesús Pacheco y Rodrigo León-Loya. "Crustal structure of the eastern Acambay Graben, central Mexico, from integrated geophysical data". Revista Mexicana de Ciencias Geológicas 35, n.º 3 (22 de noviembre de 2018): 228–39. http://dx.doi.org/10.22201/cgeo.20072902e.2018.3.864.
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The Acambay graben is a ∼70 km long E–W seismically active structure located within the Trans-Mexican Volcanic Belt (TMVB). Quaternary volcanism has contributed to shaping the graben morphology and reported hydrothermal activity suggests the existence of potential geothermal reservoirs. Our work aims at providing information about the unstudied subsurface structure of the graben using magnetotelluric (MT) soundings, as well as gravity and aeromagnetic data as preliminary work for near-future integrated 3D approach. We analyzed the distribution of magnetic anomalies and its relation to faulting using total field (TFM) aeromagnetic digital charts E14 and F14 (https://www.gob.mx/sgm) and through the analysis of the tilt derivative of TFM. The gravity and magnetic horizontal derivatives provided complementary results to constrain the location of the main fault and to contrast the response of the Pastores and Acambay-Tixmadejé faults. For the subsurface interpretation, we present the results of a 25 km magnetotelluric (MT) profile across the eastern tip of the Acambay graben, oriented approximately perpendicular to the azimuth of the main ∼E–W fault systems. The resulting resistivity model incorporates gravity and aeromagnetic coincident model profiles. Density and magnetic susceptibility models were constrained with field sample data, surface geology and with the resistivity structure obtained from the 2D inversion of the measured MT soundings. The dimensionality and electric strike of the 13 MT stations that compose the profile were analyzed for a period band of 0.01 to 100 s. The average electric azimuth obtained was 88.5°±10°, which was used to invert the rotated to the electric strike MT profile. The integrated geophysical model reveals important lithological contrasts at the northern and southern bounding faults of the graben. While the northern Acambay-Tixmadejé fault affects a resistive ground and is associated to a >20 mGal gravity anomaly, the southern Pastores fault corresponds to a contrasting conductive zone with relatively low gravity anomaly (∼5 mGal). In contrast, the magnetic anomaly shows the opposite behavior; at the Pastores fault the observed amplitude is of 400 nT while the amplitude across the Acambay-Tixmadejé fault is insignificant. The geophysical model shows that both the Acambay-Tixmadejé and Pastores faults have constant and opposite dipping angles of about 70°, defining a nearly symmetric graben structure. According to our results, the Acambay-Tixmadejé fault as well as the central graben fault system converge at a depth of ∼18 km that is consistent with the depth of the seismogenic crustal layer.
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Lins, Maria Antonieta Del Tedesco. "Varieties of state interventionism in financial policy in the aftermath of the 2008 global crisis". Economia e Sociedade 29, n.º 2 (agosto de 2020): 407–34. http://dx.doi.org/10.1590/1982-3533.2020v29n2art03.
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Abstract Thanks to lessons learned and reforms implemented after the financial crises of the late 1990s, most emerging market economies proved relatively resilient to the 2008 global crisis. Yet to cope with the turbulence that ensued, several interventions by monetary authorities in foreign exchange and capital markets were carried out. The literature on Latin American financial systems and central bank reform tends to emphasize international actors and pressures as key determinants of policy change. In contrast, this paper raises the hypothesis that domestic concerns were the main drivers of financial policymaking after the 2008 crisis even in countries with different institutional arrangements and macroeconomic trajectories such as Brazil, Mexico and Argentina. Through a comparative case study analysis, it is concluded that indeed the three countries’ approaches to exchange markets and capital controls contradicted international perceptions and even the IMF’s stance on foreign exchange policies and the management of capital flows. By pursuing more autonomy and responding to domestic priorities, each of the three countries adopted different policy measures.
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García-Verdú, Santiago y Manuel Ramos-Francia. "Interventions and Expected Exchange Rates in Emerging Market Economies". Quarterly Journal of Finance 04, n.º 01 (marzo de 2014): 1450002. http://dx.doi.org/10.1142/s2010139214500025.
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We study variations in the risk-neutral distributions of the exchange rates in Brazil, Chile, Colombia, Mexico, and Peru due to interventions implemented by these countries. For this purpose, we first estimate the risk-neutral densities of the exchange rates based on derivatives market data, for one-day and one-week horizons. Second, using a linear regression model, we assess possible effects on the distributions of the expected exchange rates due to these interventions. We find little evidence of an effect on the expected exchange rates' means, volatilities, skewness, kurtoses, risk premia, and tails' parameters. In the few cases for which we do find some statistical evidence of an effect, it tends to be short-lived or not economically significant. On the other hand, we find evidence that interventions which objective is to restore and/or assure the proper functioning of exchange rate markets have a higher probability of success. This probability increases as the amount of resources to intervene at the disposal of the central bank increases. Needless to say, there are limits to the methodology we use.
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Rocandio-Rodríguez, Mario, Amalio Santacruz-Varela, Leobigildo Córdova-Téllez, Higinio López-Sánchez, Aurelio Hernández-Bautista, Fernando Castillo-González, Ricardo Lobato-Ortiz, J. Jesús García-Zavala y Pedro Antonio López. "Estimation of Genetic Diversity in Seven Races of Native Maize from the Highlands of Mexico". Agronomy 10, n.º 2 (22 de febrero de 2020): 309. http://dx.doi.org/10.3390/agronomy10020309.
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Characterizing the genetic diversity of maize (Zea mays L.) populations by their morphological and molecular attributes makes it possible to place populations into specific groups; thus, facilitating the design of procedures for their optimum and sustainable use. In this study, data from two lines of evidence were analyzed simultaneously to robustly classify maize populations and to determine their genetic relationships. Seven maize races of the central high plateau of Mexico were characterized using a combined analysis of 13 morphological traits and 31 microsatellite loci. The germplasm assessed included samples of 119 accessions held at Mexican germplasm banks. Cluster and principal component analyses were performed. Also, genetic and geographic relationships among the accessions were determined. Principal component analysis separated the different accessions into well-defined groups using first three principal components. The accessions of Arrocillo Amarillo and Elotes Cónicos races did not exhibit a grouping pattern, indicating greater genetic complexity. Better grounded grouping and phylogenetic relationships were obtained when traits of both lines of evidence were used simultaneously.
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Santos-Hernández, Leticia, Martha Martínez-García, Jorge E. Campos y Ernesto Aguirre-León. "In vitro Propagation of Laelia albida (Orchidaceae) for Conservation and Ornamental Purposes in Mexico". HortScience 40, n.º 2 (abril de 2005): 439–42. http://dx.doi.org/10.21273/hortsci.40.2.439.
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The orchid Laelia albida is an important cultural and religious plant resource of the Tehuacan-Cuicatlan Valley Biosphere Reserve in south-central Mexico. It is gradually becoming scarce due to overcollecting and habitat perturbation. For this reason, and for preservation purposes, the aim of the present work was to obtain the conditions to successfully propagate this species, through the use of mature seeds stored at 4 °C, and basal buds following in vitro techniques. Seeds with different storage periods (lot 1 and lot 2) were analyzed for seed viability as determined by the TTC method, germination percentage and germination index were analyzed on a monthly basis for 11 months on two Knudson C (K-4003, K-4128; Sigma). Seedlings were initially grown on the same culture media variants, but 30 days later they needed to be supplemented with potato starch (20 g·L-1). Basal buds were cultured on Knudson C containing nine BAP and NAA combinations two of which were also supplemented with potato starch (20 g·L-1) and coconut water (10%). Seed viability ranged from 78% to 98% throughout the 11 months and germination percentage was 70% to 90% without significant differences between the two lots. K-4003, either alone or supplemented with potato starch, was the best culture medium used to achieve all the development stages as well as seedlings with rhizoids. Bud proliferation was also successful on K-4003 added with BAP, NAA, potato starch and coconut water. The BAP (7.4 μm) and NAA (5.3 μm) combination promoted shoots and protocorm-like bodies (PLB). The results obtained with basal buds, make its preservation through in vitro culture possible and give the possibility to obtain available plantlets for its cultivation in regional nurseries. Storage conditions tested here may be useful for seed bank management for this species. Chemical names used: 6-benzylaminopurine (BAP), 1-naphthaleneacetic acid (NAA).
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Li, Mo, Xiaobing Zhou, Christopher H. Gammons, Mohamed Khalil y Marvin Speece. "Aeromagnetic and spectral expressions of rare earth element deposits in Gallinas Mountains area, Central New Mexico, USA". Interpretation 6, n.º 4 (1 de noviembre de 2018): T937—T949. http://dx.doi.org/10.1190/int-2017-0199.1.
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The Gallinas Mountains, located at the junction of Lincoln and Torrance Counties, New Mexico, USA, are a series of alkaline volcanic rocks intruded into Permian sedimentary rocks. The Gallinas Mountains area hosts fluorite and copper as veins containing bastnäsite, whereas deposits of iron skarns and iron replacement are in the area as well. These deposits produce iron. In this study, the multispectral band-ratio method is used for surface mineral recognition, whereas 2D subsurface structure inversion modeling was applied to explore the depth extent of the magnetic ore distribution from aeromagnetic data. Bastnäsite has higher magnetic susceptibility (0.009 SI) than the host rocks and surrounding sedimentary rock. The bastnäsite and iron oxides (magnetite + hematite) can contribute to a positive aeromagnetic anomaly. Results indicate that (1) the positive magnetic anomaly observed at Gallinas Mountains area can be accounted for by a mixture of bastnäsite and iron oxides at a depth of approximately 400 m and a thickness of approximately 13–15 m. The surface of this area is dominated by the hydrothermal alteration associated with iron oxides over the trachyte intrusions as detected by Landsat 8 band-ratio imaging.
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Cortez, Klender y Martha Del Pilar Rodríguez. "Analysis of Long-Term Memory in the Mexican Exchange Market Using a Fuzzy Hurst Exponent: Does Intervention Matter?" International Journal of Uncertainty, Fuzziness and Knowledge-Based Systems 26, Suppl. 1 (diciembre de 2018): 71–92. http://dx.doi.org/10.1142/s0218488518400056.
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The following article aims to detect if long-term memory exists in the Mexican exchange rate market. This research was conducted between 1992 and 2016, during which time different intervention mechanisms were presented. The interventions were divided as follows: a) crawling bands (01/1992–12/1994), b) free flotation in crisis (01/1995–07/1996), c) mixed operations with purchases and sales of dollars by the Central Bank (08/1996–06/2001), d) free flotation (07/2001–04/2003), e) accumulation of international reserves (05/2003–02/2009, f) mixed auctions (03/2009–02/2016), and g) free flotation with interest rate increases (03/2016–12/2016). To detect the presence of long-term memory in the peso–dollar exchange rates, we proposed a fuzzy Hurst exponent. The results evidenced distinct types of behaviors depending on the grade of intervention. Compared to a free-floating regime, persistence and fuzzy Hurst values decreased when the Central Bank intervened in the exchange market. On the other hand, uncertainty increased when monetary authorities imposed a mechanism for buying and selling dollars without an exchange rate target.
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McVicker, Donald y Joel W. Palka. "A MAYA CARVED SHELL PLAQUE FROM TULA, HIDALGO, MEXICO". Ancient Mesoamerica 12, n.º 2 (julio de 2001): 175–97. http://dx.doi.org/10.1017/s0956536101122054.
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In the early 1880s, a finely carved Maya shell picture plaque was found at the Toltec capital of Tula, central Mexico, and was subsequently acquired by The Field Museum in Chicago. The shell was probably re-carved in the Terminal Classic period and depicts a seated lord with associated Maya hieroglyphs on the front and back. Here the iconography and glyphic text of this unique artifact are examined, the species and habitat of the shell are described, and its archaeological and social context are interpreted. The Tula plaque is then compared with Maya carved jade picture plaques of similar size and design that were widely distributed throughout Mesoamerica, but were later concentrated in the sacred cenote at Chichen Itza. It is concluded that during the Late Classic period, these plaques played an important role in establishing contact between Maya lords and their counterparts representing peripheral and non-Maya domains. The picture plaques may have been elite Maya gifts establishing royal alliances with non-local polities and may have become prestige objects used in caches and termination rituals.
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BARNES, JEFFREY K. "Nearctic species related to Diogmites angustipennis Loew (Diptera: Asilidae)". Zootaxa 2545, n.º 1 (22 de julio de 2010): 1. http://dx.doi.org/10.11646/zootaxa.2545.1.1.
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Diogmites bilobatus sp. nov. is described from museum specimens collected in the south central and southwestern United States and northern Mexico. Its close resemblance to the widespread D. angustipennis Loew is established. Diogmites grossus Bromley syn. nov., D. pulcher (Back) syn. nov., and D. symmachus Loew syn. nov. are synonymized with D. angustipennis, and lectotypes are designated for D. angustipennis and D. symmachus. Notes on morphological variation, habitat, prey, distribution, and phenology are provided for D. bilobatus sp. nov. and D. angustipennis.