Fig. 4From: A dynamic factor model for the Mexican economy: are common trends useful when predicting economic activity?The top panel plots the \(\rho ^{*}_h\) with the confidence interval. The middle panel shows their corresponding maximum significant lag, \(\max ( h \le 12:\text{Prob}(\text{corr}(y_{it-h}, x_t)) < 0.05),\) and the bottom panel presents the mean absolute correlations for each block of variablesBack to article page