This paper aims to analyse the dynamic relationship between the stock market returns and exchange rates movements for the mila (Mercado Integrado Latinoamericano) countries: Colombia, Chile, México and Peru, over the period 01:2003 to 09:2016. Univariate (Markov Switching-Autoregressive) and multivariate (Markov Switching-Vector Autoregressive) regime-switching models approach are used. The univariate analysis offers evidence indicating that stock returns of the mila countries evolve according to two different regimes: a low volatility regime and a high volatility regime. The Markov Switching Vector Autoregressive models point out that stock markets have more influence on exchange rate than exchange rate has on stock markets. Results for the Peruvian and Chilean markets contribute evidence about contagion between the stock and the exchange rate markets. * Profesora, Facultad de Economía. unam.

A substantial body of evidence documents the relationship between macroeconomic variables and stock returns and risk from developed countries. The evidence for emerging markets is limited, particularly identifying risk premia compensations for inflation and exchange rates. This paper attempts to quantify the short and long term relationship between inflation and exchange rates with over all stock market performance for the case of the two largest Latin American capital markets, Mexico and Brazil. Extending the Fisher model, the aim is to determine whether or not these markets have failed to keep pace with movements in those two variables (the most unstable and economic growth hampering variables in these economies during the last three decades), and therefore to what extent the stock market succeeds or fails to test as inflation hedges. The empirical evidence is presented assuming positioning of a local investor in their own market, and from the point of view of a U.S. investor in each of these markets. Two unit root tests are also presented to stress long term relationships between stock returns, inflation, and foreign exchange.

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This paper presents evidence of day-of-the week and month-of-the year effects for the case of the Mexican Stock Market for the period 1986-2001, and two subperiods identified by breakpoints in the return series. In local currency nominal terms, Monday is the worst performing

<p>La situación que atraviesa México, a raíz de la pandemia del COVID19, ha puesto en evidencia la vulnerabilidad de ciertas regiones propiciada por carencias relacionadas con acceso a servicios de salud, educación y servicios básicos de la vivienda (electricidad, agua y drenaje). El presente trabajo analiza el impacto que la falta de dichos servicios tiene en la incidencia de contagio y muerte por COVID19. Para ello, se utiliza la metodología de redes neuronales artificiales con datos a nivel municipal del Índice de Rezago Social, publicado por el Consejo Nacional de Evaluación de la Política de Desarrollo Social (CONEVAL) y datos de muertes y contagios acumulados reportados por el Gobierno de México a través de la plataforma COVID19. Los resultados revelan que las carencias estructurales, relacionadas con la falta de condiciones de saneamiento y acceso al agua, son los principales determinantes del número de contagios y muertes por la pandemia.</p>