<?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>0188-3380</journal-id>
<journal-title><![CDATA[Economía: teoría y práctica]]></journal-title>
<abbrev-journal-title><![CDATA[Econ: teor. práct]]></abbrev-journal-title>
<issn>0188-3380</issn>
<publisher>
<publisher-name><![CDATA[Universidad Autónoma Metropolitana, a través de la Unidad Iztapalapa, la Unidad Azcapotzalco y la Unidad Xochimilco, División de Ciencias Sociales]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0188-33802015000300083</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Crecimiento endógeno y demanda agregada: un análisis de panel de la Unión Monetaria Europea]]></article-title>
<article-title xml:lang="en"><![CDATA[Endogenous Growth and Aggregate Demand: Panel Analysis for European Monetary Union]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Perrotini Hernández]]></surname>
<given-names><![CDATA[Ignacio]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Landa Díaz]]></surname>
<given-names><![CDATA[Heri Óscar]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Nacional Autónoma de México Facultad de Economía División de Estudios de Posgrado]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Nacional Autónoma de México Facultad de Economía División de Estudios de Posgrado]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>00</month>
<year>2015</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>00</month>
<year>2015</year>
</pub-date>
<numero>spe3</numero>
<fpage>83</fpage>
<lpage>113</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0188-33802015000300083&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0188-33802015000300083&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0188-33802015000300083&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: El objetivo principal de este artículo es cuantificar la elasticidad de la tasa natural de crecimiento (gn ) vis-à-vis las fluctuaciones de la demanda agregada de las economías que conforman la Unión Monetaria Europea. A tal efecto, se emplea un modelo de errores estándar corregidos para panel aplicado a datos de 18 países de la eurozona para el periodo 1980-2012. Los resultados sugieren que la gn comporta una elasticidad positiva -si bien distinta para cada país- respecto a la tasa de crecimiento observada del producto en el largo plazo. A la luz de estas estimaciones es posible evaluar los efectos de las políticas de deflación salarial y austeridad fiscal que el BCE, la CE, el FMI y los mercados financieros han implementado en los países europeos que experimentan una crisis de deuda soberana.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: The paper is mainly aimed at computing the elasticity of the natural growth rate of output (gn ) vis-à-vis fluctuations in aggregate demand for both the European Monetary Union as a whole and a sample of 18 Eurozone's countries. Using data for the period 1980-2012, estimates are drawn from a Standard Error Correction Panel model. The gn is shown to be elastic vis-à-vis the actual growth rate of output across the board, albeit elasticity coefficients vary across countries. Our empirical results shed light for assessing the relative merits of the austerity and internal devaluation policies recommended by the ECB, EC, IMF and financial markets to Eurozone crisis-ridden countries.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[banca central]]></kwd>
<kwd lng="es"><![CDATA[crecimiento endógeno]]></kwd>
<kwd lng="es"><![CDATA[euro]]></kwd>
<kwd lng="es"><![CDATA[modelos de datos de panel]]></kwd>
<kwd lng="es"><![CDATA[política fiscal]]></kwd>
<kwd lng="es"><![CDATA[política monetaria]]></kwd>
<kwd lng="en"><![CDATA[central bank]]></kwd>
<kwd lng="en"><![CDATA[endogenous growth]]></kwd>
<kwd lng="en"><![CDATA[Euro]]></kwd>
<kwd lng="en"><![CDATA[fiscal policy]]></kwd>
<kwd lng="en"><![CDATA[models with panel data]]></kwd>
<kwd lng="en"><![CDATA[monetary policy]]></kwd>
</kwd-group>
</article-meta>
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