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This paper aims to combine the extreme value theory and CGARCH models to capture the long-term asymmetry effects and long memory in volatility and to improve the estimation of tail risk for Maya crude oil. The results of the backtesting confirm the forecasting ability of the symmetric and asymmetric CGARCH-EVT approaches for the estimation of dynamic VaR even though risk measures based on the GARCH-EVT family approaches provide also a better out of sample performance. The findings have important implications for crude oil market participants as they allow them to improve risk management and design optimal hedging strategies to reduce exposure to price risk of producers and consumers. [ABSTRACT FROM AUTHOR]

An analysis is made of the evolution of the Mexican peso exchange rate since 1954 in relation to the dollar, its volatility, and the use of financial derivatives during the different crisis that Mexico has suffered. During this period several different types of exchange rate have been used: fixed, dual, floating bands and free flotation, The authors arrive at the conclusion that the Mexican exchange rate is volatile, and that any external economic or financial occurrence affects the peso's value due to the Mexican economy's weakness. But the use of derivative instruments so as to protect it from exchange risks, help to consolidate the financial system and therefore results in a better economy for the country. [ABSTRACT FROM AUTHOR]

An analysis is made of the evolution of the Mexican peso exchange rate since 1954 in relation to the dollar, its volatility, and the use of financial derivatives during the different crisis that Mexico has suffered. During this period several different types of exchange rate have been used: fixed, dual, floating bands and free flotation, The authors arrive at the conclusion that the Mexican exchange rate is volatile, and that any external economic or financial occurrence affects the peso's value due to the Mexican economy's weakness. But the use of derivative instruments so as to protect it from exchange risks, help to consolidate the financial system and therefore results in a better economy for the country. [ABSTRACT FROM AUTHOR]