¿Están sincronizadas las principales variables de la economía mexicana?

Abstract

THIS PAPER ANALYSES THE SYNCHRONISATION BETWEEN THE REGIMES OF PRODUCTION, INFLATION, REAL EXCHANGE RATE AND TRADE BALANCE OF THE MEXICAN ECONOMY BY USING A NON PARAMETRIC APPROACH. OUR RESULTS VALIDATE PREVIOUS FINDINGS, YET THEY SUGGEST THAT THE RELATIONSHIP BETWEEN SOME VARIABLES IN STRONGER DURING SPECIFIC REGIMES. AN INTERESTING RESULT RELATES TO THE FACT THAT ECONOMIC GROWTH CAN BER COMPATIBLE WITH ANNUAL INFLATION RATES UP TO 10% WHICH POSE SERIOUS DOUBTS ON THE CONVENIENCE OF TARGETING THEM AT TOO LOW LEVELS.