<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2477-9075</journal-id>
<journal-title><![CDATA[Revista Economía y Política]]></journal-title>
<abbrev-journal-title><![CDATA[Revista Economía y Política]]></abbrev-journal-title>
<issn>2477-9075</issn>
<publisher>
<publisher-name><![CDATA[Universidad de Cuenca]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2477-90752017000100078</article-id>
<article-id pub-id-type="doi">10.25097/rep.n25.2017.05</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Evidencia de volatilidad agrupada en el mercado accionario ecuatoriano: aplicación de un modelo Igarch para el índice Ecuindex]]></article-title>
<article-title xml:lang="en"><![CDATA[Evidence of volatility clustering in teh ecuadorian equity market: application of an Igarch model for the Ecuindex]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Covri Rivera]]></surname>
<given-names><![CDATA[Daniele]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Católica Argentina  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Argentina</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2017</year>
</pub-date>
<numero>25</numero>
<fpage>78</fpage>
<lpage>90</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://scielo.senescyt.gob.ec/scielo.php?script=sci_arttext&amp;pid=S2477-90752017000100078&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://scielo.senescyt.gob.ec/scielo.php?script=sci_abstract&amp;pid=S2477-90752017000100078&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://scielo.senescyt.gob.ec/scielo.php?script=sci_pdf&amp;pid=S2477-90752017000100078&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen La presente investigación intenta desarrollar una variante del modelo GARCH para el índice del mercado accionario ecuatoriano Ecuindex. Los datos son tomados diariamente y cubren un horizonte temporal de más de 13 años. Debido a que la suma de los parámetros en la ecuación de la varianza resulta ser exactamente 1, por lo tanto, se implementa un modelo IGARCH (1,1). Se desea entonces entender si la volatilidad se presenta agrupada y, en segundo lugar, se desea medir el riesgo del mercado accionario ecuatoriano. Estos resultados pueden ser relevantes para posteriores investigaciones que miren a realizar predicciones mediante instrumentos financieros derivados o también para medir el riesgo de mercado de los portafolios.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The present research tries to develop a variant of the GARCH model for the Ecuadorian index stock market Ecuindex. The data are taken daily and cover a time horizon of more than 13 years. Because the sum of the parameters in the variance equation turns out to be exactly 1, therefore, an IGARCH model (1,1) is implemented. The aim is to understand if volatility is clustered and, secondly, the purpose is to measure the risk of the Ecuadorian stock market. These results may be relevant for further research looking at predictions using financial derivative instruments or for measuring the market risk of portfolios.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Ecuindex]]></kwd>
<kwd lng="es"><![CDATA[Garch]]></kwd>
<kwd lng="es"><![CDATA[Igarch]]></kwd>
<kwd lng="es"><![CDATA[Rendimientos]]></kwd>
<kwd lng="es"><![CDATA[Volatilidad]]></kwd>
<kwd lng="en"><![CDATA[Ecuindex]]></kwd>
<kwd lng="en"><![CDATA[Garch]]></kwd>
<kwd lng="en"><![CDATA[Igarch]]></kwd>
<kwd lng="en"><![CDATA[Returns]]></kwd>
<kwd lng="en"><![CDATA[Volatility]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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