<?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>S2448-718X2008000300683</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Efectos de los cambios de la política monetaria en las dinámicas del tipo de cambio, el dinero y los precios en México (1945-2000)]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Garcés Díaz]]></surname>
<given-names><![CDATA[Daniel Guillermo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Banco de México  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>09</month>
<year>2008</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2008</year>
</pub-date>
<volume>75</volume>
<numero>299</numero>
<fpage>683</fpage>
<lpage>713</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-718X2008000300683&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-718X2008000300683&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-718X2008000300683&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: El presente artículo demuestra que un cambio de política económica en 1982 produjo una modificación notoria en la relación entre el dinero, los precios y el tipo de cambio en México. Antes de ese año, la demanda de dinero de largo plazo tenía la forma de la ecuación cuantitativa del dinero, y la inflación estaba impulsada principalmente por la brecha monetaria. Después de una interesante mutación, desde 1983 y hasta el final de la muestra la demanda de moneda local tomó una estructura muy diferente, y la inflación pasó a ser determinada por el margen del nivel de precios con respecto a los precios externos y los salarios sin un efecto explícito del dinero. Sin embargo, la relación de largo plazo que vincula los niveles del producto, del tipo de cambio y de los precios externos con la cantidad nominal de dinero se mantiene para todo el periodo de análisis.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: This paper shows that an economic policy change in 1982 brought about a conspicuous alteration in the relationship between money, prices and the exchange rate in Mexico. Before that year, the long-run demand for currency was the velocity equation, and inflation was driven mainly by the money gap. After a striking change over, from 1983 until 2000 the demand for currency took a very different form, and inflation was determined by the markup without an explicit effect from money. However, the long-run relationship that links the levels of output, the exchange rate and foreign prices with that of nominal money holds for the whole sample.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[demanda de dinero]]></kwd>
<kwd lng="es"><![CDATA[PPC]]></kwd>
<kwd lng="es"><![CDATA[inflación]]></kwd>
<kwd lng="es"><![CDATA[cointegración]]></kwd>
<kwd lng="es"><![CDATA[cambios estructurales]]></kwd>
</kwd-group>
</article-meta>
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