<?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>S0185-16672001000300013</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Evidencia respecto de la valoración del peso mexicano en la región fronteriza]]></article-title>
<article-title xml:lang="en"><![CDATA[Border Region Evidence Regarding Mexican Peso Currency Valuation]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Fullerton Jr.]]></surname>
<given-names><![CDATA[Thomas M.]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Coronado]]></surname>
<given-names><![CDATA[Roberto]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de Texas Departamento de Economía y Finanzas &amp; Centro de Desarrollo Económico de la frontera ]]></institution>
<addr-line><![CDATA[El Paso TX]]></addr-line>
<country>USA</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad de Texas Departamento de Economía y Finanzas &amp; Centro de Desarrollo Económico de la Frontera ]]></institution>
<addr-line><![CDATA[El Paso TX]]></addr-line>
<country>USA</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>09</month>
<year>2001</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2001</year>
</pub-date>
<volume>61</volume>
<numero>237</numero>
<fpage>13</fpage>
<lpage>24</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0185-16672001000300013&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0185-16672001000300013&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0185-16672001000300013&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El desempeño del tipo de cambio y la valoración de la moneda son de interés primordial pa ra las economías fronterizas. Las herramientas normalmente utilizadas para esta tarea incluyen las referencias nominales de la paridad del poder de compra y los índices de inflación ajustados por ponderaciones de comercio. Este último tiene la ventaja de contar con los datos macroeconómicos internacionales normalmente disponibles, pero omite otra información que puede ofrecer una visión adicional a los problemas circundantes de los debates de la política de tipo de cambio. Otros esfuerzos han utilizado muestras pequeñas de comparación internacional de los precios de los productos para remarcar las cuestiones sobre la valoración de la moneda. Este artículo desarrolla tal herramienta por medio de repetidas muestras de precios cobrados por artículos idénticos del menú vendidos en franquicias de restaurantes en El Paso, Texas y Ciudad Juárez, Chihuahua. Un conjunto de pruebas estadísticas indican que el peso ha sido consistentemente devaluado en 1997, 1998 y 1999.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Of prime interest to border economies is exchange rate performance and currency valuation. Commonly used tools for this task include purchasing power parity nominal benchmarks and inflation adjusted trade-weighted indices. The latter have the advantage of relying upon commonly available international macroeconomic data, but overlook other information that may offer additional insight to issues surrounding exchange rate policy debates. Other efforts have utilized small samples of international product price comparisons to shed light on currency valuation questions. This paper develops one such tool by repeated sampling of prices charged for identical menu items sold at restaurant franchises in El Paso, Texas and Ciudad Juárez, Chihuahua. A battery of statistical tests indicate that the currency value of the peso frequentently differed from the exchange rate implied by the border region restaurant price ratios in 1997, 1998, and 1999.]]></p></abstract>
</article-meta>
</front><back>
<ref-list>
<ref id="B1">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Anónimo]]></surname>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Big MacCurrencies]]></article-title>
<source><![CDATA[The Economist]]></source>
<year>1998</year>
<numero>58</numero>
<issue>58</issue>
</nlm-citation>
</ref>
<ref id="B2">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Beltrán del Rio]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Proyección Básica]]></article-title>
<source><![CDATA[Perspectivas económicas de México]]></source>
<year>1998</year>
<numero>30</numero>
<issue>30</issue>
<page-range>6.1-6.46</page-range><publisher-name><![CDATA[CIEMEX-WEFA]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B3">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Clark]]></surname>
<given-names><![CDATA[D. P]]></given-names>
</name>
<name>
<surname><![CDATA[Sawyer]]></surname>
<given-names><![CDATA[W. C.]]></given-names>
</name>
<name>
<surname><![CDATA[Sprinkle]]></surname>
<given-names><![CDATA[R. L.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Value of the Southern Dollar]]></article-title>
<source><![CDATA[Review of Regional Studies]]></source>
<year>1997</year>
<numero>27</numero>
<issue>27</issue>
<page-range>185-93</page-range></nlm-citation>
</ref>
<ref id="B4">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Clark]]></surname>
<given-names><![CDATA[D. P]]></given-names>
</name>
<name>
<surname><![CDATA[Sawyer]]></surname>
<given-names><![CDATA[W. C.]]></given-names>
</name>
<name>
<surname><![CDATA[Sprinkle]]></surname>
<given-names><![CDATA[R. L.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Regional Exchance Rate Indexes for the United States]]></article-title>
<source><![CDATA[Journal of Regional Science]]></source>
<year></year>
</nlm-citation>
</ref>
<ref id="B5">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Clark]]></surname>
<given-names><![CDATA[D. P]]></given-names>
</name>
<name>
<surname><![CDATA[Sawyer]]></surname>
<given-names><![CDATA[W. C.]]></given-names>
</name>
<name>
<surname><![CDATA[Sprinkle]]></surname>
<given-names><![CDATA[R. L.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[The Value of the Texas Dollar]]></article-title>
<source><![CDATA[Nóisis]]></source>
<year></year>
</nlm-citation>
</ref>
<ref id="B6">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Cumby]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
</person-group>
<source><![CDATA[Forecasting Exchange Rates and Relative Prices with the Hamburger Standard]]></source>
<year>1995</year>
<publisher-name><![CDATA[Universidad de Georgetown]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B7">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Fullerton Jr.]]></surname>
<given-names><![CDATA[T.M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Exchange Rate Indexes for Ecuador &amp; Venezuela]]></article-title>
<source><![CDATA[Latin America Economic Outlook]]></source>
<year>1989</year>
<page-range>1.3-7</page-range><publisher-name><![CDATA[The WEFA Group]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B8">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Hakkio]]></surname>
<given-names><![CDATA[C.]]></given-names>
</name>
<name>
<surname><![CDATA[Rush]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Cointegration: How Short is the Long-Run?]]></article-title>
<source><![CDATA[Journal of International Money and Finance]]></source>
<year>1991</year>
<numero>10</numero>
<issue>10</issue>
<page-range>571-81</page-range></nlm-citation>
</ref>
<ref id="B9">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Jenkins]]></surname>
<given-names><![CDATA[M.A.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[Cities, Borders, Distances, Non-Traded Goods and Pur chasing Power Parity]]></article-title>
<source><![CDATA[Oxford Bulletin of Economies and Statistics]]></source>
<year>1997</year>
<numero>59</numero>
<issue>59</issue>
<page-range>203-13</page-range></nlm-citation>
</ref>
<ref id="B10">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Li]]></surname>
<given-names><![CDATA[L. O.]]></given-names>
</name>
</person-group>
<source><![CDATA[Burgemomics]]></source>
<year>1995</year>
<publisher-name><![CDATA[Departamento de Economía, Universidad de Australia Occidental]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B11">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Pakko]]></surname>
<given-names><![CDATA[M. R.]]></given-names>
</name>
<name>
<surname><![CDATA[Pollard]]></surname>
<given-names><![CDATA[P. S.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[For Here or to Go?]]></article-title>
<source><![CDATA[Review]]></source>
<year>1996</year>
<numero>78</numero>
<issue>78</issue>
<page-range>3-21</page-range><publisher-name><![CDATA[Banco de la Reserva Federal de St. Louis]]></publisher-name>
</nlm-citation>
</ref>
<ref id="B12">
<nlm-citation citation-type="journal">
<collab>Regents of the University of California</collab>
<article-title xml:lang=""><![CDATA[Purchasing Power Parity: Some Evidence for the San Diego/Tijuana Region]]></article-title>
<source><![CDATA[San Diego/Tijuana Economic Review]]></source>
<year>1997</year>
<page-range>1-5</page-range></nlm-citation>
</ref>
<ref id="B13">
<nlm-citation citation-type="journal">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Taylor]]></surname>
<given-names><![CDATA[M.P.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[An Empirical Examination of Long-Run Purchasing Power Parity using Cointegration Techniques]]></article-title>
<source><![CDATA[Applied Economies]]></source>
<year>1998</year>
<numero>20</numero>
<issue>20</issue>
<page-range>1369-81</page-range></nlm-citation>
</ref>
<ref id="B14">
<nlm-citation citation-type="book">
<person-group person-group-type="author">
<name>
<surname><![CDATA[Trevizo]]></surname>
<given-names><![CDATA[J. P.]]></given-names>
</name>
</person-group>
<article-title xml:lang=""><![CDATA[México]]></article-title>
<source><![CDATA[Latin America Monthly Monitor]]></source>
<year>1998</year>
<page-range>65-76</page-range><publisher-name><![CDATA[WEFA Group]]></publisher-name>
</nlm-citation>
</ref>
</ref-list>
</back>
</article>
