<?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>S1665-53462019000500541</article-id>
<article-id pub-id-type="doi">10.21919/remef.v14i0.422</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Limited Information and the Relation Between the Variance of Inflation and the Variance of Output in a New Keynesian Perspective]]></article-title>
<article-title xml:lang="es"><![CDATA[Información limitada y la relación entre las varianzas del producto y la inflación: análisis con el enfoque de la nueva Economía Keynesiana]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rodríguez Arana]]></surname>
<given-names><![CDATA[Alejandro]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Iberoamericana  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>00</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>00</month>
<year>2019</year>
</pub-date>
<volume>14</volume>
<numero>spe</numero>
<fpage>541</fpage>
<lpage>557</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462019000500541&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462019000500541&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462019000500541&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The objective of this paper is to analyze the effects on welfare of a monetary policy that establishes the reference interest rate at discrete intervals of time. The hypothesis is that because there is uncertainty about various disturbances that will occur in the period in which the referential interest rate is established, this can cause a loss of social welfare. To analyze the problem, a model is proposed where the central bank minimizes a loss function. When there is perfect certainty, an efficient frontier between the variances of inflation and output is reached. With uncertainty the result is inefficient. This implies the need to discuss whether it would be convenient for the interest rate to be set contingently. The main limitation of the work is perhaps that the model used makes a large number of abstractions, which allows it to be functional, but can leave out important aspects of reality. There seems to be very few papers, in any, that deal with the problem addressed in this work.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo de este trabajo es analizar los efectos sobre el bienestar que puede tener la política monetaria que establece la tasa de interés de referencia por intervalos discretos de tiempo. La hipótesis es que debido a que hay incertidumbre sobre diversas perturbaciones que tendrín lugar en el período en que se establece la tasa de interés referencial, esto puede causar una pérdida de bienestar social. Para analizar el problema, se plantea un modelo donde el banco central minimiza una función de pérdida. Cuando hay perfecta certidumbre, se alcanza una frontera eficiente entre las varianzas de la inflación y el producto. Con incertidumbre el resultado es ineficiente. Esto implica la necesidad de discutir si sería conveniente que la tasa de interés se fijara de manera contingente. La principal limitación del trabajo es tal vez que el modelo utilizado hace una gran cantidad de abstracciones, lo que le permite ser funcional, pero puede dejar de lado aspectos importantes de la realidad. Por otra parte, parece haber muy pocos trabajos, o tal vez ninguno, que traten el problema particular analizado este artículo.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Inflation]]></kwd>
<kwd lng="en"><![CDATA[variance of inflation]]></kwd>
<kwd lng="en"><![CDATA[variance of output]]></kwd>
<kwd lng="en"><![CDATA[interest rate&#8217;s setting]]></kwd>
<kwd lng="en"><![CDATA[inflation targeting]]></kwd>
<kwd lng="es"><![CDATA[inflación]]></kwd>
<kwd lng="es"><![CDATA[variación de la inflación]]></kwd>
<kwd lng="es"><![CDATA[variación de la producción]]></kwd>
<kwd lng="es"><![CDATA[fijación de la tasa de interés]]></kwd>
<kwd lng="es"><![CDATA[meta de inflación]]></kwd>
</kwd-group>
</article-meta>
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