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Regularidades empíricas en los ciclos económicos de México: producción, inversión, inflación y balanza comercial

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  • Pablo Mejía Reyes

    () (El Colegio Mexiquense)

Abstract

Business cycles are analysed according to the traditional methodology proposed by Kydland and Prescott (1990) to define stylised facts for the Mexican case. Previous studies are extended by using alternative filters for removing trends, using a larger variables set of monthly data and also analysing the dynamics of investment, inflation and trade balance. Some of the most important results are the endogenous character of monetary and fiscal policies in terms of their relationship with the cycle, the negative effects of inflation on growth, the counter-cyclical nature of imports and trade balance, and the important role of the real exchange rate on the business cycle, inflation and trade balance performance.

Suggested Citation

  • Pablo Mejía Reyes, 2003. "Regularidades empíricas en los ciclos económicos de México: producción, inversión, inflación y balanza comercial," Economía Mexicana NUEVA ÉPOCA, , vol. 0(2), pages 231-274, July-Dece.
  • Handle: RePEc:emc:ecomex:v:12:y:2003:i:2:p:231-274
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    File URL: http://www.economiamexicana.cide.edu/num_anteriores/XII-2/Pablo_Mejia.pdf
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    References listed on IDEAS

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    1. Carsten Kowalczyk & Donald R. Davis, 1998. "Tariff Phase-Outs: Theory and Evidence from GATT and NAFTA," NBER Chapters,in: The Regionalization of the World Economy, pages 227-258 National Bureau of Economic Research, Inc.
    2. Nelson, Charles R & Startz, Richard, 1990. "Some Further Results on the Exact Small Sample Properties of the Instrumental Variable Estimator," Econometrica, Econometric Society, vol. 58(4), pages 967-976, July.
    3. Hanson, G.H. & Harrison, A., 1995. "Trade, Technology and Wage Inequality," Papers 95-20, Columbia - Graduate School of Business.
    4. Hall, Robert E, 1988. "The Relation between Price and Marginal Cost in U.S. Industry," Journal of Political Economy, University of Chicago Press, vol. 96(5), pages 921-947, October.
    5. Hoekman, Bernard & Kee, Hiau Looi & Olarreaga, Marcelo, 2001. "Mark-ups, Entry Regulation and Trade: Does Country Size Matter?," CEPR Discussion Papers 2853, C.E.P.R. Discussion Papers.
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    Keywords

    business cycles; cyclical fluctuations; Mexico;

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