Main determinants in Mexico's monetary policy decisions: An econometric analysis
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 macroec...
| Autores: | , |
|---|---|
| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2013 |
| País: | México |
| Institución: | EL COLEGIO DE MÉXICO |
| Repositorio: | Estudios Económicos de El Colegio de México |
| Idioma: | español |
| OAI Identifier: | oai:oai.estudioseconomicos.colmex.mx:article/84 |
| Acceso en línea: | https://estudioseconomicos.colmex.mx/index.php/economicos/article/view/84 |
| Access Level: | acceso abierto |
| Palabra clave: | binary probit models monetary policy macroeconomic variables yield curve C18 E52 E44 modelos probit binarios política monetaria variables macroeconómicas curva de rendimientos |
| Sumario: | 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. |
|---|