Principales determinantes en las decisiones de política monetaria de México: un análisis econométrico

Isela Elizabeth Téllez León and Francisco Venegas Martínez
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Isela Elizabeth Téllez León: Instituto Politécnico Nacional
Francisco Venegas Martínez: Instituto Politécnico Nacional
Authors registered in the RePEc Author Service: Francisco Venegas-Martínez

Estudios Económicos, 2013, vol. 28, issue 1, 79-108

Abstract: This 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.

Keywords: binary probit models; monetary policy; macroeconomic variables; yield curve (search for similar items in EconPapers)
JEL-codes: C18 E44 E52 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:emx:esteco:v:28:y:2013:i:1:p:79-108

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