<?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>S2448-718X2011000300675</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[La paridad de poder de compra en México (1930-1960)]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Wallace]]></surname>
<given-names><![CDATA[Frederick H.]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Shelley]]></surname>
<given-names><![CDATA[Gary L.]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Cabrera Castellanos]]></surname>
<given-names><![CDATA[Luis Fernando]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de Quintana Roo Departamento de Ciencias Económico-Administrativas ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,East Tennessee State University Departament of Economics and Finance ]]></institution>
<addr-line><![CDATA[Johnson City Tennessee]]></addr-line>
<country>USA</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>09</month>
<year>2011</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2011</year>
</pub-date>
<volume>78</volume>
<numero>311</numero>
<fpage>675</fpage>
<lpage>693</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-718X2011000300675&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-718X2011000300675&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-718X2011000300675&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Empleamos una serie de datos no explotados anteriormente para calcular el tipo de cambio real respecto al dólar para México durante 1930.01-1960.12 a fin de probar la paridad de poder de compra (PPC). Los resultados iniciales de la prueba de Dickey-Fuller aumentada (DFA) muestran un débil apoyo para la PPC. La prueba de Kapetanios, Shin, and Snell (KSS), con otra hipótesis de reversión no lineal a la media, muestra bastante apoyo para la PPC. Sin embargo, encontramos que los residuos de estas pruebas presentan no normalidad o heteroscedasticidad. Usando el enfoque de wild bootstrap, calculamos los valores críticos de la distribución empírica de los residuos y reevaluamos los estadísticos de prueba empleando estos nuevos valores críticos. Concluimos que hay evidencia de ajuste no lineal a la PPC para 1930.01-1951.12, pero esta evidencia no se mantiene durante 1952.01-1960.12, el periodo de sustitución de importaciones en México.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract We use a previously unexploited data set to calculate the real exchange rate with respect to the U.S. dollar for Mexico for 1930.01-1960.12, and to test for purchasing power parity (PPP). The initial results from the Augmented Dickey-Fuller (ADF) test show weak support for the PPP hypothesis. The Kapetanios, Shin, and Snell test, for a unit root null with an alternative of nonlinear reversion to the mean, indicates substantial support for PPP. However, non-normality and, sometimes, heteroscedasticity are found in the test residuals. Using a wild bootstrap approach, critical values are calculated from the empirical distribution of the residuals. Reevaluating the test statistics with the new critical values, we conclude that there is evidence of nonlinear adjustment to PPP for 1930.01-1951.12 but there is no evidence that PPP held for 1952.01-1960.12, the period of import substitution in Mexico.]]></p></abstract>
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<kwd lng="es"><![CDATA[paridad de poder de compra]]></kwd>
<kwd lng="es"><![CDATA[tipo de cambio real]]></kwd>
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