<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0185-1667</journal-id>
<journal-title><![CDATA[Investigación económica]]></journal-title>
<abbrev-journal-title><![CDATA[Inv. Econ]]></abbrev-journal-title>
<issn>0185-1667</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Economía]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0185-16672003000300149</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[La regla de Taylor para México: un análisis econométrico]]></article-title>
<article-title xml:lang="en"><![CDATA[The Taylor Rule for Mexico: An Econometric Analysis]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Galindo]]></surname>
<given-names><![CDATA[Luis Miguel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Guerrero]]></surname>
<given-names><![CDATA[Carlos]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,UNAM Facultad de Economía ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2003</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2003</year>
</pub-date>
<volume>62</volume>
<numero>246</numero>
<fpage>149</fpage>
<lpage>167</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0185-16672003000300149&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0185-16672003000300149&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0185-16672003000300149&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: El objetivo de este trabajo es analizar, desde el punto de vista econométrico, la validez de la regla de Taylor en el caso de la economía mexicana. Los resultados obtenidos indican que es posible elaborar un modelo econométrico con las características estadísticas adecuadas aunque con diferencias importantes con la regla de Taylor original. De este modo, puede argumentarse que reglas simples describen satisfactoriamente el comportamiento de la política monetaria en México. Este modelo indica que la tasa de interés nominal responde a la tasa de inflación y a la tasa de interés con un retardó mientras que las desviaciones con respecto al producto potencial no son estadísticamente significativas. Ello refleja que el Banco de México define su política tomando en consideración exclusivamente el comportamiento de los precios sin considerar, sistemáticamente, los efectos sobre las desviaciones del producto.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: The objective of this article is to analyze from an econometric perspective the validity of the Taylor rule in the case of the Mexican economy. The results obtained indicate that developing an econometric model with the appropriate statistical characteristics is possible, but only with important variants from the original Taylor rule. Thus, it can be argued that simple rules satisfactorily describe the behavior of monetary policy in Mexico. What this model indicates is that the nominal interest rate responds to the inflation rate and to the interest rate with a delay while the deviations from the potential product are not statistically significant. This reflects that the Central Bank of Mexico defines its policies exclusively by the behavior of the price level without any systematic consideration to the effects on the deviations of the product.]]></p></abstract>
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</name>
</person-group>
<source><![CDATA[Monetary Theory and Policy]]></source>
<year>2000</year>
<publisher-name><![CDATA[MIT Press]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B33">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Woodward]]></surname>
<given-names><![CDATA[B.]]></given-names>
</name>
</person-group>
<source><![CDATA[Greenspan]]></source>
<year>2001</year>
<publisher-name><![CDATA[Península Atalaya]]></publisher-name>
</nlm-citation>
</ref>
</ref-list>
</back>
</article>
