<?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>2448-8402</journal-id>
<journal-title><![CDATA[Ensayos. Revista de economía]]></journal-title>
<abbrev-journal-title><![CDATA[Ens. Rev. econ.]]></abbrev-journal-title>
<issn>2448-8402</issn>
<publisher>
<publisher-name><![CDATA[Universidad Autónoma de Nuevo León, a través de la Facultad de Economía con la colaboración del Centro de Investigaciones Económicas]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-84022016000200175</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Modelación de las dinámicas, volatilidades e interrelaciones de los rendimientos del petróleo mexicano, BRENT y WTI]]></article-title>
<article-title xml:lang="en"><![CDATA[Modeling the Dynamics, Volatilities and Interrelations of the Mexican, Brent and WTI Oil Returns]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ruiz-Porras]]></surname>
<given-names><![CDATA[Antonio]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Anguiano Pita]]></surname>
<given-names><![CDATA[Javier Emmanuel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de Guadalajara Departamento de Métodos Cuantitativos ]]></institution>
<addr-line><![CDATA[Zapopan Jalisco]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad de Guadalajara  ]]></institution>
<addr-line><![CDATA[Zapopan Jalisco]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>11</month>
<year>2016</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>11</month>
<year>2016</year>
</pub-date>
<volume>35</volume>
<numero>2</numero>
<fpage>175</fpage>
<lpage>193</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-84022016000200175&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-84022016000200175&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-84022016000200175&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Estudiamos las dinámicas, volatilidades e interrelaciones de los rendimientos del petróleo mexicano (MME), Brent y WTI con doce modelos GARCH multivariados. Los resultados sugieren que: 1) la volatilidad de la MME es mayor que la del WTI y menor que la del Brent; 2) el modelo AR(1)-TGARCH(1,1) con una distribución t-de-Student multivariada es el que mejor describe los rendimientos; 3) existen algunas interrelaciones entre las volatilidades de los rendimientos y 4) las buenas y malas noticias tienen impactos asimétricos sobre las volatilidades. El estudio usa datos diarios de los precios spot del petróleo y de sus rendimientos para el periodo 03/01/2000-11/02/2016.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract We study the dynamics, volatilities and interrelations of the Mexican (MME), Brent and WTI oil returns with twelve multivariate GARCH models. The main results suggest that: 1) The volatility of MME is bigger than the one of the WTI, but smaller than the one of Brent. 2) The AR (1)-TGARCH (1,1) model with a multivariate t-Student distribution is the best one to describe the returns. 4) There are some interrelations among the volatilities of returns; and 4) good and bad news have asymmetric impacts on the volatilities. The study uses daily data of oil spot prices and their returns for the period 01/03/2000- 11/02/2016.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Rendimientos del petróleo]]></kwd>
<kwd lng="es"><![CDATA[MME]]></kwd>
<kwd lng="es"><![CDATA[Brent]]></kwd>
<kwd lng="es"><![CDATA[WTI]]></kwd>
<kwd lng="es"><![CDATA[Modelos GARCH Multivariados]]></kwd>
<kwd lng="en"><![CDATA[Oil returns]]></kwd>
<kwd lng="en"><![CDATA[MME]]></kwd>
<kwd lng="en"><![CDATA[Brent]]></kwd>
<kwd lng="en"><![CDATA[WTI]]></kwd>
<kwd lng="en"><![CDATA[Multivariate GARCH models]]></kwd>
</kwd-group>
</article-meta>
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