<?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>2448-718X</journal-id>
<journal-title><![CDATA[El trimestre económico]]></journal-title>
<abbrev-journal-title><![CDATA[El trimestre econ]]></abbrev-journal-title>
<issn>2448-718X</issn>
<publisher>
<publisher-name><![CDATA[Fondo de Cultura Económica]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-718X2015000300617</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Estrategias de ajuste ante choques hipotéticos de oferta y demanda. Resultados de una encuesta a empresas mexicanas]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Sánchez-Romeu]]></surname>
<given-names><![CDATA[Paula]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rattia Lima]]></surname>
<given-names><![CDATA[Ernesto]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Banco de México Dirección General de Investigación Económica ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>México</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Banco de México Dirección General de Investigación Económica ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>México</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>09</month>
<year>2015</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2015</year>
</pub-date>
<volume>82</volume>
<numero>327</numero>
<fpage>617</fpage>
<lpage>674</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-718X2015000300617&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-718X2015000300617&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-718X2015000300617&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen En este artículo se analizan estrategias de ajuste para hacer frente a choques hipotéticos de oferta y demanda utilizadas por 1 138 empresas mexicanas encuestadas por el Banco de México en 2012. Los resultados del análisis muestran que la respuesta de las empresas ante los dos tipos de choque en general no es simétrica y que éstas reaccionan combinando estrategias (principalmente eligen reducir costos), con lo cual moderan los ajustes a precios y producción. Más competencia hace que las empresas utilicen con más intensidad las estrategias de ajuste y favorece la flexibilidad de los precios. Ante cualquier choque, los costos que más se reducen son los no laborales y los que genera el empleo temporal. Una alta competencia y un mayor porcentaje de costos laborales intensifican el traspaso de los choques al empleo; por el contrario, los acuerdos colectivos de trabajo mitigan dicho traspaso. No se observa un traspaso de los choques a las percepciones salariales, lo cual, aunado a la baja incidencia de la reducción del salario base, evidencia rigidez en los salarios nominales de las empresas entrevistadas.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper analyzes the adjustment strategies to face hypothetical supply and demand shocks used by 1 138 Mexican firms surveyed by Banco de México in 2012. The results of the analysis show that the response of firms to both types of shocks is not symmetrical in general, and that firms react to these shocks combining adjustment strategies (mostly choosing to reduce costs) to smooth the pass-through to prices and production. Stronger competition makes firms use the adjustment strategies more intensively, and it encourages price flexibility. For all shocks, the costs more likely to be reduced are non-labor costs, followed by temporary employment. A high degree of competition and a high labor share make the passthrough of shocks to employment stronger. On the other hand, collective wage agreements smooth this pass-through. No pass-through of shocks to wages is observed, which combined with a low observed incidence of reducing base salaries shows nominal wage rigidity in the firms surveyed.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[encuesta a empresas]]></kwd>
<kwd lng="es"><![CDATA[ajuste de precios]]></kwd>
<kwd lng="es"><![CDATA[costos]]></kwd>
<kwd lng="es"><![CDATA[salarios y empleo]]></kwd>
<kwd lng="es"><![CDATA[choques de oferta y demanda]]></kwd>
<kwd lng="es"><![CDATA[competencia]]></kwd>
<kwd lng="es"><![CDATA[Wage Dynamics Network (WDN)]]></kwd>
</kwd-group>
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