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Monetary policy rules in a small open economy: an application to Mexico
(Centro de Investigación y Docencia Económicas, División de Economía, 2009)
We estimate a small-scale macro model for the Mexican economy under the New Keynesian framework. We then estimate alternative interest rate rules for Mexico, and use the results from both exercises to evaluate the performance ...
¿Que tan predecible es la política monetaria?: un análisis econométrico del contenido informativo de los comunicados del Banco de México
(Centro de Investigación y Docencia Económicas, División de Economía, 2011)
In this paper we investigate whether the communication bias of the Bank of Mexico provides information that helps to anticipate the course of monetary policy in subsequent periods. We first construct an objective index of ...