<?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>S1870-66222015000200109</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Dinámica del petróleo en México. Un modelo de dos sectores]]></article-title>
<article-title xml:lang="en"><![CDATA[Dynamics of oil in Mexico. A two-sector model]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Fonseca Rocha]]></surname>
<given-names><![CDATA[Karla]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Gómez López]]></surname>
<given-names><![CDATA[Claudia S.]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Banco Del Bajío, S. A.  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad de Guanajuato Departamento de Economía y Finanzas ]]></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>109</fpage>
<lpage>135</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1870-66222015000200109&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1870-66222015000200109&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1870-66222015000200109&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El artículo hace un análisis de un monopolio que extrae un recurso no renovable que se enfrenta a dos mercados: uno nacional y uno exterior. Utilizamos evidencia de la economía mexicana respecto a las tres mezclas de petróleo que se producen y exportan. Utilizamos el modelo de Fischer y Laxminayaran (2004) y lo extendemos al caso de la economía mexicana con dos mercados y tres bienes. Los resultados que encontramos son los siguientes: (i) la mezcla más competitiva de la economía mexicana es la Maya al ser la más barata, la que más se produce y la que más se exporta; (ii) los precios son más volátiles que las variables de producción que se consideraron en el estudio; (iii) las elasticidades de las mezclas Istmo y Olmeca son las más inelásticas, por lo que un aumento en el precio de estas mezclas disminuye su cantidad exportada. La mezcla Maya tiene una elasticidad mayor, por lo que un aumento en su precio incrementa la cantidad exportada; (iv) las mezclas son complementarias y sustitutas entre ellas en casos específicos y (v) el corolario número 1 y la proposición número 1 del modelo de Fischer y Laxminarayan se replica en el caso de la economía mexicana.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper analyzes a monopoly firm that extracts a non renewable resource (oil) and faces two markets: domestic and international. We use mexican empirical evidence regarding the three mexican crude oil types (Maya, Istmo y Olmeca) available at the mexican market. We use Fischer and Laxminayaran (2004) model and modify it to the mexican economy which is characterized by two markets and three commodities (crude oil) types. Our main results are: (i) the Maya commodity type is the most competitive in prices and exports; (ii) prices are more volatile than real variables in the mexican petroleum market; (iii) Istmo and Olmeca mexican commodities are more inelastic, so an increase in price decreases the quantity for the international market; (iv) we find complementarities and also substitution relationships between the oil mexican crude oil commodities in some special cases and, finally, (v) Fischer and Laxminayaran results are applicable to the mexican economy.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[petróleo]]></kwd>
<kwd lng="es"><![CDATA[elasticidades]]></kwd>
<kwd lng="es"><![CDATA[monopolio]]></kwd>
<kwd lng="es"><![CDATA[ciclos económicos]]></kwd>
<kwd lng="en"><![CDATA[oil]]></kwd>
<kwd lng="en"><![CDATA[elasticities]]></kwd>
<kwd lng="en"><![CDATA[monopoly]]></kwd>
<kwd lng="en"><![CDATA[business cycles]]></kwd>
</kwd-group>
</article-meta>
</front><back>
<ref-list>
<ref id="B1">
<nlm-citation citation-type="">
<article-title xml:lang=""><![CDATA[Crónica del petróleo en México: De 1863 a nuestros días]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Álvarez de la Borda]]></surname>
<given-names><![CDATA[Joel]]></given-names>
</name>
</person-group>
<source><![CDATA[Petróleos Mexicanos]]></source>
<year>2006</year>
<edition>1a</edition>
<publisher-loc><![CDATA[México ]]></publisher-loc>
</nlm-citation>
</ref>
<ref id="B2">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[Engineering and Econometric Interpretations of Energy-Capital Complenmentarity]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Berndt]]></surname>
<given-names><![CDATA[Ernest R.]]></given-names>
</name>
<name>
<surname><![CDATA[Wood]]></surname>
<given-names><![CDATA[David O.]]></given-names>
</name>
</person-group>
<source><![CDATA[American Economic Review]]></source>
<year>1979</year>
<volume>69</volume>
<page-range>342-54</page-range></nlm-citation>
</ref>
<ref id="B3">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[Technology, Prices, and the Derived Demand for Energy]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Berndt]]></surname>
<given-names><![CDATA[Ernest R.]]></given-names>
</name>
<name>
<surname><![CDATA[Wood]]></surname>
<given-names><![CDATA[David O.]]></given-names>
</name>
</person-group>
<source><![CDATA[Review of Economics and Statistics]]></source>
<year>1975</year>
<volume>57</volume>
<page-range>259-68</page-range></nlm-citation>
</ref>
<ref id="B4">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[In Defense of Monopoly]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Boulding]]></surname>
<given-names><![CDATA[K. E.]]></given-names>
</name>
</person-group>
<source><![CDATA[Quarterly Journal of Economics]]></source>
<year>1945</year>
<volume>59</volume>
<numero>4</numero>
<issue>4</issue>
<page-range>524-42</page-range></nlm-citation>
</ref>
<ref id="B5">
<nlm-citation citation-type="">
<collab>British Petroleum</collab>
<source><![CDATA[Statistical Review of World Energy]]></source>
<year>2013</year>
</nlm-citation>
</ref>
<ref id="B6">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[Monopoly extraction of an Exhaustible Resource with two Markets]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Fischer]]></surname>
<given-names><![CDATA[Carolyn]]></given-names>
</name>
<name>
<surname><![CDATA[Laxminarayan]]></surname>
<given-names><![CDATA[Ramanan]]></given-names>
</name>
</person-group>
<source><![CDATA[Canadian Journal of Economics]]></source>
<year>2004</year>
<volume>17</volume>
<page-range>178-88</page-range></nlm-citation>
</ref>
<ref id="B7">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[An Intercountry Translog Model of Energy Substitution Responses]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Griffin]]></surname>
<given-names><![CDATA[James M.]]></given-names>
</name>
<name>
<surname><![CDATA[Gregory]]></surname>
<given-names><![CDATA[Paul R.]]></given-names>
</name>
</person-group>
<source><![CDATA[American Economic Review]]></source>
<year>1976</year>
<volume>66</volume>
<page-range>845-57</page-range></nlm-citation>
</ref>
<ref id="B8">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[Do the Hodrick-Prescott and Baxter-King Filters Provi-de a Good Approximation of Business Cycles?]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Guay]]></surname>
<given-names><![CDATA[Alain]]></given-names>
</name>
<name>
<surname><![CDATA[St.-Amant]]></surname>
<given-names><![CDATA[Pierre]]></given-names>
</name>
</person-group>
<source><![CDATA[Annals of Economics and Statistics]]></source>
<year>2005</year>
<numero>77</numero>
<issue>77</issue>
<page-range>133-55</page-range></nlm-citation>
</ref>
<ref id="B9">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[Detrending, Stylized Facts and the Business Cycle]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Harvey]]></surname>
<given-names><![CDATA[A. C.]]></given-names>
</name>
<name>
<surname><![CDATA[Jaeger]]></surname>
<given-names><![CDATA[A.]]></given-names>
</name>
</person-group>
<source><![CDATA[Journal of Applied Economics]]></source>
<year>1993</year>
<volume>3</volume>
<page-range>231-47</page-range></nlm-citation>
</ref>
<ref id="B10">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[Postwar U.S. Business Cycles: An Empirical Investigation]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Hodrick]]></surname>
<given-names><![CDATA[R. J.]]></given-names>
</name>
<name>
<surname><![CDATA[Prescott]]></surname>
<given-names><![CDATA[E. C.]]></given-names>
</name>
</person-group>
<source><![CDATA[Journal of Money, Credit &amp; Banking]]></source>
<year>1997</year>
<volume>29</volume>
</nlm-citation>
</ref>
<ref id="B11">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[US Energy Policy and Economic Growth, 1975- 2000]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Hudson]]></surname>
<given-names><![CDATA[E. A.]]></given-names>
</name>
<name>
<surname><![CDATA[Jorgenson]]></surname>
<given-names><![CDATA[D. W.]]></given-names>
</name>
</person-group>
<source><![CDATA[The Bell Journal of Economics and Management Science]]></source>
<year>1974</year>
<volume>5</volume>
<numero>2</numero>
<issue>2</issue>
<page-range>461-514</page-range></nlm-citation>
</ref>
<ref id="B12">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[The Optimal Consumption of Depletable Natural Resources: Comment]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Kemp]]></surname>
<given-names><![CDATA[Murray C.]]></given-names>
</name>
<name>
<surname><![CDATA[Van Long]]></surname>
<given-names><![CDATA[Ngo]]></given-names>
</name>
</person-group>
<source><![CDATA[Quarterly Journal of Economics]]></source>
<year>1978</year>
<volume>92</volume>
<page-range>345-54</page-range></nlm-citation>
</ref>
<ref id="B13">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[Monopoly and the Rate of Extraction of Exhaustible Resources: Note]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Lewis]]></surname>
<given-names><![CDATA[Tracy R.]]></given-names>
</name>
<name>
<surname><![CDATA[Matthews]]></surname>
<given-names><![CDATA[Steven A.]]></given-names>
</name>
<name>
<surname><![CDATA[Burness]]></surname>
<given-names><![CDATA[H. Stuart]]></given-names>
</name>
</person-group>
<source><![CDATA[American Economic Review]]></source>
<year>1979</year>
<volume>69</volume>
<page-range>227-30</page-range></nlm-citation>
</ref>
<ref id="B14">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[Monopoly and Crude Oil Extraction]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Soladay]]></surname>
<given-names><![CDATA[John J.]]></given-names>
</name>
</person-group>
<source><![CDATA[American Economic Review]]></source>
<year>1980</year>
<volume>69</volume>
<page-range>234-9</page-range></nlm-citation>
</ref>
<ref id="B15">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[Monopoly and the Intertemporal Production of a Durable Extractable Resource]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Stewart]]></surname>
<given-names><![CDATA[Marion B.]]></given-names>
</name>
</person-group>
<source><![CDATA[Quarterly Journal of Economics]]></source>
<year>1980</year>
<volume>94</volume>
<page-range>99-111</page-range></nlm-citation>
</ref>
<ref id="B16">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[Monopoly and the Rate of Extraction of Exhaustible Resources]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Stiglitz]]></surname>
<given-names><![CDATA[Joseph]]></given-names>
</name>
</person-group>
<source><![CDATA[American Economic Review]]></source>
<year>1976</year>
<volume>66</volume>
<page-range>655-61</page-range></nlm-citation>
</ref>
<ref id="B17">
<nlm-citation citation-type="">
<collab>Instituto Mexicano del Petróleo</collab>
<source><![CDATA[Tipos de petróleo]]></source>
<year>2011</year>
</nlm-citation>
</ref>
<ref id="B18">
<nlm-citation citation-type="journal">
<article-title xml:lang=""><![CDATA[Optimal Consumption of Depletable Resources]]></article-title>
<person-group person-group-type="author">
<name>
<surname><![CDATA[Weinstein]]></surname>
<given-names><![CDATA[M.]]></given-names>
</name>
<name>
<surname><![CDATA[Zeckhauser]]></surname>
<given-names><![CDATA[R.]]></given-names>
</name>
</person-group>
<source><![CDATA[Quarterly Journal of Economics]]></source>
<year>1975</year>
<volume>89</volume>
<page-range>371-92</page-range></nlm-citation>
</ref>
</ref-list>
</back>
</article>
