<?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>1870-2171</journal-id>
<journal-title><![CDATA[Panorama económico (Ciudad de México)]]></journal-title>
<abbrev-journal-title><![CDATA[Panor. econ. (Ciudad de México)]]></abbrev-journal-title>
<issn>1870-2171</issn>
<publisher>
<publisher-name><![CDATA[Instituto Politécnico Nacional, Coordinación de Publicaciones de la  Escuela Superior de Economía]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1870-21712020000100057</article-id>
<article-id pub-id-type="doi">10.29201/pe-ipn.v15i30.252</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Variables económicas y deterioro de la calidad de la cartera de hipotecas bursatilizadas en México]]></article-title>
<article-title xml:lang="en"><![CDATA[Economic variables and spoilage of the quality portfolio of securitized mortgages in Mexico]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Mosso Martínez]]></surname>
<given-names><![CDATA[Margarita María]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[López-Herrera]]></surname>
<given-names><![CDATA[Francisco]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Anáhuac México  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Nacional Autónoma de México Facultad de Contaduría y Administración División de Investigación]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2020</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2020</year>
</pub-date>
<volume>15</volume>
<numero>30</numero>
<fpage>57</fpage>
<lpage>78</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1870-21712020000100057&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1870-21712020000100057&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1870-21712020000100057&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este artículo se ocupa del análisis de la relación entre el deterioro de la calidad de la cartera de hipotecas bursatilizadas en México y variables económicas y financieras relevantes. Mediante un modelo autorregresivo de rezagos distribuidos (ARDL) se recolectó evidencia sobre la importancia de ciertas variables para explicar ese deterioro. La selección de variables se basó en la revisión de la literatura nacional e internacional, relacionada tanto con el riesgo sistemático como con el incumplimiento de los préstamos hipotecarios. El conocimiento de las variables causales de dicho deterioro puede ser útil para los emisores de valores respaldados por hipotecas, ya que podría ayudarlos a comprender mejor el riesgo que enfrentan esos valores. Naturalmente, este conocimiento también se puede utilizar para guiar la toma de decisiones de los inversionistas, así como de los administradores de portafolios y riesgos.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper deals with the analysis of the relationship between the spoilage of the quality of the portfolio of securitized mortgages in Mexico and relevant economic and financial variables. Through an autoregressive distributed lags (ARDL) model, evidence was collected on the importance of certain variables to explain that spoilage. The selection of variables was based on the review of national and international literature, related to both systematic risk and non-compliance with mortgage loans. Knowledge of the causal variables of such spoilage can be useful for issuers of mortgage-backed securities, as it could help them better understand the risk faced by those securities. Naturally, this knowledge can also be used to guide the decision making of investors, as well as portfolio and risk managers.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[calidad de carteras hipotecarias]]></kwd>
<kwd lng="es"><![CDATA[cartera de hipotecas bursatilizadas]]></kwd>
<kwd lng="es"><![CDATA[riesgo sistemático]]></kwd>
<kwd lng="es"><![CDATA[riesgo macroeconómico]]></kwd>
<kwd lng="en"><![CDATA[mortgage portfolio quality]]></kwd>
<kwd lng="en"><![CDATA[securitized mortgage portfolio]]></kwd>
<kwd lng="en"><![CDATA[systematic risk]]></kwd>
<kwd lng="en"><![CDATA[macroeconomic risk]]></kwd>
</kwd-group>
</article-meta>
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