<?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>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462017000400405</article-id>
<article-id pub-id-type="doi">10.21919/remef.v12i4.241</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Estimación de modelos estructurales y la evolución del tipo de cambio Peso-Dólar después de la crisis subprime]]></article-title>
<article-title xml:lang="en"><![CDATA[Estimation of Structural Models and the Evolution of the Peso-Dollar Exchange Rate after the Subprime Crisis]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ibarra Salazar]]></surname>
<given-names><![CDATA[Jorge]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Salazar]]></surname>
<given-names><![CDATA[José de Jesús]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Navarro Aguirre]]></surname>
<given-names><![CDATA[Rafael]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Tecnológico de Monterrey Departamento de Economía ]]></institution>
<addr-line><![CDATA[Monterrey ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Tecnológico de Monterrey Departamento de Economía ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2017</year>
</pub-date>
<volume>12</volume>
<numero>4</numero>
<fpage>405</fpage>
<lpage>429</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462017000400405&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462017000400405&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462017000400405&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: El presente trabajo tiene como objetivo determinar la influencia del diferencial de tasas de tasas de interés MX USA y la cuenta financiera de la balanza de pagos sobre el tipo de cambio nominal; y probar si hubo cambio estructural a partir del último trimestre de 2008. Para lo cual estimamos modelos de tipo de cambio nominal con datos mensuales de 1996 a 2015, siguiendo las especificaciones de los siguientes modelos: paridad de poder de compra, monetario, tradicional de flujo y equilibrio de portafolio. Resultando encontrar evidencia parcial de que el diferencial de tasas de interés y la cuenta financiera explican las fluctuaciones del tipo de cambio nominal. Lo cual nos lleva a concluir que el efecto de la política monetaria, tanto nacional como en USA, y de los flujos de capitales internacionales y la evolución de tipo de cambio, ha sufrido un cambio estructural a partir de la crisis Subprime.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: In the present paper we analyze the influence over the nominal exchange rate of the MX USA interest rate differential, and the financial account of the balance of payments; and to prove whether there was structural change in the third quarter of 2008. In order to do this, we estimate models of nominal exchange rate using monthly data from 1996 to 2015, taking the specifications of the following models: purchasing power parity, monetary, traditional flow and portfolio equilibrium. Our results find some evidence indicating that the interest rates differential and the financial account explain the fluctuations of the exchange rate; and evidence of structural change in the exchange rate evolution starting 2008. As a result it is concluded that the effect of both national and USA monetary policy, and of the movements of international capitals and exchange rate evolution has suffered structural change as a consequence of the Subprime crisis.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Tipo de cambio]]></kwd>
<kwd lng="es"><![CDATA[modelos estructurales]]></kwd>
<kwd lng="es"><![CDATA[cambio estructural]]></kwd>
<kwd lng="es"><![CDATA[tasas de interés]]></kwd>
<kwd lng="es"><![CDATA[cuenta financiera de la balanza de pagos]]></kwd>
<kwd lng="es"><![CDATA[México]]></kwd>
<kwd lng="en"><![CDATA[Exchange rate]]></kwd>
<kwd lng="en"><![CDATA[Structural models]]></kwd>
<kwd lng="en"><![CDATA[Structural Change]]></kwd>
<kwd lng="en"><![CDATA[Interest Rates]]></kwd>
<kwd lng="en"><![CDATA[Financial Account of the Balance of Payments]]></kwd>
<kwd lng="en"><![CDATA[Mexico]]></kwd>
</kwd-group>
</article-meta>
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