<?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>0186-7202</journal-id>
<journal-title><![CDATA[Estudios Económicos (México, D.F.)]]></journal-title>
<abbrev-journal-title><![CDATA[Estud. Econ. (México, D.F.)]]></abbrev-journal-title>
<issn>0186-7202</issn>
<publisher>
<publisher-name><![CDATA[El Colegio de México A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0186-72022019000100003</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Joint smoothing of GDP and unemployment with a bivariate HP filter]]></article-title>
<article-title xml:lang="es"><![CDATA[Suavizamiento conjunto del PIB y la tasa de desempleo con un filtro HP bivariado]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Islas]]></surname>
<given-names><![CDATA[Alejandro]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Guerrero]]></surname>
<given-names><![CDATA[Víctor M.]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Instituto Tecnológico Autónomo de México  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2019</year>
</pub-date>
<volume>34</volume>
<numero>1</numero>
<fpage>3</fpage>
<lpage>24</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-72022019000100003&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-72022019000100003&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-72022019000100003&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The problem of jointly estimating unobserved trends and cycles of a bivariate time series considered here appears within the macroeconomic context of Okuns Law when relating output gaps and the unemployment rate. Joint estimation of the output and unemployment trends is carried out by applying a bivariate time series filter that allows for simultaneous estimation of the correlation between cycles. The estimation procedure employed is based on an extension of the univariate Hodrick-Prescott filter and its application in practice is relatively easy. The main contribution of our approach is that we can control the amount of smoothness in the trends by fixing the smoothing parameter. The empirical application uses data on U.S. real gross domestic product and the unemployment rate.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Se considera el problema de estimar conjuntamente las tendencias y los ciclos no-observables de una serie de tiempo bivariada, en el contexto macroeconómico de la Ley de Okun, para relacionar las brechas del producto y la tasa de desempleo. La estimación se realiza con un filtro de Hodrick-Prescott bivariado que estima simultáneamente la correlación entre los ciclos. La contribución principal de este enfoque es que se puede controlar la suavidad de las tendencias al fijar un parámetro de suavizamiento en forma apropiada. La ilustración empírica utiliza datos del PIB y de la tasa de desempleo de Estados Unidos.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[business cycle]]></kwd>
<kwd lng="en"><![CDATA[correlations]]></kwd>
<kwd lng="en"><![CDATA[cyclical unemployment]]></kwd>
<kwd lng="en"><![CDATA[signal extraction]]></kwd>
<kwd lng="en"><![CDATA[smoothness index]]></kwd>
<kwd lng="es"><![CDATA[ciclo de negocios]]></kwd>
<kwd lng="es"><![CDATA[correlación]]></kwd>
<kwd lng="es"><![CDATA[desempleo cíclico]]></kwd>
<kwd lng="es"><![CDATA[extracción de señal]]></kwd>
<kwd lng="es"><![CDATA[índice de suavidad]]></kwd>
</kwd-group>
</article-meta>
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