<?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>1870-6622</journal-id>
<journal-title><![CDATA[EconoQuantum]]></journal-title>
<abbrev-journal-title><![CDATA[EconoQuantum]]></abbrev-journal-title>
<issn>1870-6622</issn>
<publisher>
<publisher-name><![CDATA[Universidad de Guadalajara]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1870-66222015000200047</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Efectos de la política monetaria en las decisiones de crédito al consumo]]></article-title>
<article-title xml:lang="en"><![CDATA[Effects of monetary policy decisions on consumer credit]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rodríguez Nava]]></surname>
<given-names><![CDATA[Abigail]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Venegas Martínez]]></surname>
<given-names><![CDATA[Francisco]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Autónoma Metropolitana  ]]></institution>
<addr-line><![CDATA[Xochimilco ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Instituto Politécnico Nacional Escuela Superior de Economía ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2015</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2015</year>
</pub-date>
<volume>12</volume>
<numero>2</numero>
<fpage>47</fpage>
<lpage>69</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1870-66222015000200047&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1870-66222015000200047&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1870-66222015000200047&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen En esta investigación se propone un modelo cuyo propósito es mostrar los efectos de política monetaria en las decisiones de crédito bancario para consumo. Las hipótesis esenciales son: 1) la autoridad monetaria incide en la composición del balance bancario mediante el control de la tasa de interés; 2) la oferta de crédito es independiente de los depósitos. Entre los resultados principales se encuentran: 1) la utilización de la tasa de interés como instrumento de política monetaria influye indirectamente sobre las posibilidades de gasto de los consumidores, porque los bancos comerciales son forzados a modificar la composición de sus activos y pasivos en respuesta a las decisiones del banco central; 2) la demanda de activos y pasivos de los agentes depende esencialmente de la rentabilidad, riesgo y correlación entre los títulos. Por último, el modelo propuesto se calibra para medir los efectos de la política monetaria sobre las decisiones de los agentes.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper proposes a model to examine the effects of monetary policy on banking credit for consumption. The key assumptions are: 1) the monetary authority affects the structure of balance sheets by controlling the rate of interest; 2) the supply of credit is independent of the deposits. The main results are: 1) the use of interest rate as instrument of monetary policy indirectly affects the possibilities of consumer spending, because the commercial banks are forced to change the composition of its assets and liabilities in response to central bank decisions; 2) the demand for assets and liabilities of agents depends mainly on profitability, risk, and correlation between securities. Finally, the proposed model is calibrated to measure the effects of monetary policy on agents&#8217; decisions.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Política monetaria]]></kwd>
<kwd lng="es"><![CDATA[bancos comerciales]]></kwd>
<kwd lng="es"><![CDATA[consumidores]]></kwd>
<kwd lng="es"><![CDATA[gasto]]></kwd>
<kwd lng="es"><![CDATA[tasa de interés]]></kwd>
<kwd lng="en"><![CDATA[Monetary policy]]></kwd>
<kwd lng="en"><![CDATA[commercial banking]]></kwd>
<kwd lng="en"><![CDATA[consumers]]></kwd>
<kwd lng="en"><![CDATA[expense]]></kwd>
<kwd lng="en"><![CDATA[interest rate]]></kwd>
</kwd-group>
</article-meta>
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