The Bank of Mexico in the context of the global financial crisis

Abstract

The context of the current crisis shows that the possibilities of recovery are still far from materializing, and variables such as economic growth and unemployment continue to show weakness. Within this scenario, the policies followd by three important central banks – The Federal Reserve, the European Central Bank and the Bank of Mexico – are analyzed. Upon maintaining the economic model imposed more than thirty years ago, many authorities find it difficult to escape from economic stagnation and to find the minimal possibilities for increasing employment and combatting unemployment.