<?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>2448-6655</journal-id>
<journal-title><![CDATA[Análisis económico]]></journal-title>
<abbrev-journal-title><![CDATA[Anál. econ.]]></abbrev-journal-title>
<issn>2448-6655</issn>
<publisher>
<publisher-name><![CDATA[Universidad Autónoma Metropolitana, Unidad Azcapotzalco, División de Ciencias Sociales y Humanidades]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-66552024000100007</article-id>
<article-id pub-id-type="doi">10.24275/uam/azc/dcsh/ae/2024v39n100/anguiano</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[International transmission of U.S. macroeconomic shocks in the USMCA region]]></article-title>
<article-title xml:lang="es"><![CDATA[Transmisión internacional de los shocks macroeconómicos estadounidenses en la región del T-MEC]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Anguiano Pita]]></surname>
<given-names><![CDATA[Javier Emmanuel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ruiz Porras]]></surname>
<given-names><![CDATA[Antonio]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de Guadalajara CUCEA ]]></institution>
<addr-line><![CDATA[Zapopan Jal]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad de Guadalajara CUCEA ]]></institution>
<addr-line><![CDATA[Zapopan Jal.]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>04</month>
<year>2024</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>04</month>
<year>2024</year>
</pub-date>
<volume>39</volume>
<numero>100</numero>
<fpage>7</fpage>
<lpage>27</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-66552024000100007&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-66552024000100007&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-66552024000100007&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract We study the international transmission of U.S. real and financial shocks on the USMCA region using a global approach. The study relies on a GVAR (Global Vector Autoregressive) model and generalized impulse-response functions (GIRF). The main findings suggest that: 1) The USMCA economies are contemporaneously linked to the world economy mainly through private credit, international trade and real GDP; 2) shocks on U.S. GDP and U.S. trade flows have higher influence in Canada than in Mexico; 3) shocks on U.S. interest rates have higher influence in Mexico than in Canada; 4) the private credit and the international trade channels are the most important ones for the transmission of international macroeconomic shocks. The study relies on quarterly data for 33 countries of the period 1986:Q1-2019:Q4.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Estudiamos la transmisión internacional de los shocks reales y financieros de Estados Unidos en la región del T-MEC utilizando un enfoque global. El estudio se basa en un modelo GVAR (Vector Global Auto-regresivo) y funciones generalizadas de impulso-respuesta (GIRF). Los principales hallazgos sugieren que: 1) Las economías del T-MEC están simultáneamente vinculadas a la economía mundial, principalmente a través del crédito privado, el comercio internacional y el PIB real; 2) los shocks sobre el PIB y los flujos comerciales de Estados Unidos tienen mayor influencia en Canadá que en México; 3) los shocks sobre las tasas de interés estadounidenses tienen mayor influencia en México que en Canadá; 4) el crédito privado y el comercio internacional son los más importantes canales para la transmisión de shocks macroeconómicos internacionales. El estudio se basa en datos trimestrales de 33 países del período 1986:T1- 2019:T4.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Macroeconomic shocks]]></kwd>
<kwd lng="en"><![CDATA[International transmission]]></kwd>
<kwd lng="en"><![CDATA[USMCA]]></kwd>
<kwd lng="en"><![CDATA[GVAR Model]]></kwd>
<kwd lng="en"><![CDATA[GIRFs]]></kwd>
<kwd lng="es"><![CDATA[Shocks macroeconómicos]]></kwd>
<kwd lng="es"><![CDATA[Transmisión internacional]]></kwd>
<kwd lng="es"><![CDATA[T-MEC]]></kwd>
<kwd lng="es"><![CDATA[Modelo GVAR]]></kwd>
<kwd lng="es"><![CDATA[GIRFs]]></kwd>
</kwd-group>
</article-meta>
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