Principales determinantes en las decisiones de política monetaria de México: un análisis econométrico
AbstractThis paper identifies the determinants that affect the probability of deviations from the target interest rate (overnight interbank rate) of Bank of Mexico, through the development of several binary probit models. Among, the determinants of monetary policy decisions of Bank of Mexico several macroeconomic variables are identified in Mexico and the United States and, particularly, some nodes of the Treasury Certificates yield curve. The combination of these variables provides an adequate specification based on standard information criteria from econometric analysis.
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Bibliographic InfoArticle provided by El Colegio de México, Centro de Estudios Económicos in its journal Estudios Económicos.
Volume (Year): 28 (2013)
Issue (Month): 1 ()
binary probit models; monetary policy; macroeconomic variables; yield curve;
Find related papers by JEL classification:
- C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
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