<?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>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462019000400693</article-id>
<article-id pub-id-type="doi">10.21919/remef.v14i4.352</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Co-movimientos entre los Índices Accionarios y los Ciclos Económicos de Estados Unidos y México]]></article-title>
<article-title xml:lang="en"><![CDATA[Co-movements between Stock Market Indices and Economic cycles: The case of US and Mexico]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Román de la Sancha]]></surname>
<given-names><![CDATA[Luis Ignacio]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Hernández Álvarez]]></surname>
<given-names><![CDATA[Federico]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rodríguez García]]></surname>
<given-names><![CDATA[Gabriel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
<xref ref-type="aff" rid="Aaf"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Nacional Autónoma de México  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Consultoría B&amp;G Business &amp; Growth S.C.  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>México</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2019</year>
</pub-date>
<volume>14</volume>
<numero>4</numero>
<fpage>693</fpage>
<lpage>714</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462019000400693&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462019000400693&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462019000400693&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo de este trabajo es identificar los co-movimientos entre los índices accionarios Dow Jones (DJ) de los Estados Unidos (EU) y el Índice de Precios y Cotizaciones (IPC) de México; así también con los ciclos económicos de ambos países. Para explicar esta relación se propone una metodología que comprende conceptos y modelos utilizados en el estudio de ciclos económicos, en particular: tendencia, ciclo, puntos de giro, conformidad y sincronía. Los resultados muestran que las tendencias del índice DJ y el indicador de la economía mexicana (SICCA) muestran una alta conformidad. Por otra parte, los ciclos financieros del DJ e IPC presentan una sincronía casi coincidente. Algunas variables que escapan a este trabajo y que también influyen en los ciclos económicos incluyen la tasa de cambio, ciclos crediticios y políticos. La originalidad de esta investigación consiste en el estudio de la relación que tienen los ciclos financieros obtenidos de los principales índices accionarios con los ciclos económicos. Se concluye que los ciclos del DJ e IPC anticipan con al menos cuatro meses a los ciclos económicos de EU y México.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The aim of this paper is to identify the co-movements between the Dow Jones stock index (DJ) of the United States of America (US) and the Índice de Precios y Cotizaciones (IPC) of Mexico along with the economic cycles of both countries. A novel approach using concepts and models widely accepted in the study of economic cycles is developed to explain this relationship, in particular: trend, cycle, turning points, conformity and synchrony. Finding points show that trend of the DJ index and the mexican economy indicator (SICCA) present high conformity. On the other hand, the financial cycles of the DJ and IPC present an almost coincident synchrony. Some variables such as exchange rate, credit and political cycles that also influence economic cycles are not taken into account. The originality of this paper is the study of the relationship between financial cycles obtained from the main stock indexes and economic cycles. It is concluded that the cycles of the DJ and IPC anticipate economic cycles of both US and Mexico with at least four months.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Ciclos Económicos]]></kwd>
<kwd lng="es"><![CDATA[Ciclos Financieros]]></kwd>
<kwd lng="es"><![CDATA[Co-movimientos]]></kwd>
<kwd lng="es"><![CDATA[Filtro Hodrick y Prescott]]></kwd>
<kwd lng="es"><![CDATA[Algoritmo Bry y Boschan]]></kwd>
<kwd lng="es"><![CDATA[E32]]></kwd>
<kwd lng="es"><![CDATA[G10]]></kwd>
<kwd lng="es"><![CDATA[C10]]></kwd>
<kwd lng="es"><![CDATA[C63]]></kwd>
<kwd lng="en"><![CDATA[Economic Cycles]]></kwd>
<kwd lng="en"><![CDATA[Financial Cycles]]></kwd>
<kwd lng="en"><![CDATA[Co-movements]]></kwd>
<kwd lng="en"><![CDATA[Hodrick &amp; Prescott Filter]]></kwd>
<kwd lng="en"><![CDATA[Bry &amp; Boschan algorithm]]></kwd>
<kwd lng="en"><![CDATA[E32]]></kwd>
<kwd lng="en"><![CDATA[G10]]></kwd>
<kwd lng="en"><![CDATA[C10]]></kwd>
<kwd lng="en"><![CDATA[C63]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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