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External Shocks and Business Cycle Fluctuations in Mexico : How Important are U.S. Factors? /
This paper examines the relative importance of external shocks as sources of business cycle fluctuations in Mexico, and identifies the dynamic responses of domestic output to foreign disturbances. Using a VAR model with block exogeneity restrictions, it finds that U.S. shocks explain a large share o...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2008.
©2008 |
| Colección: | IMF working paper ;
WP/08/100. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Sosa, Sebastian, |e author. | |
| 245 | 1 | 0 | |a External Shocks and Business Cycle Fluctuations in Mexico : |b How Important are U.S. Factors? / |c prepared by Sebastián Sosa. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, |c 2008. | ||
| 264 | 4 | |c ©2008 | |
| 300 | |a 1 online resource (31 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/08/100 | |
| 500 | |a Available in PDF, ePUB, and Mobi formats on the Internet. | ||
| 520 | |a This paper examines the relative importance of external shocks as sources of business cycle fluctuations in Mexico, and identifies the dynamic responses of domestic output to foreign disturbances. Using a VAR model with block exogeneity restrictions, it finds that U.S. shocks explain a large share of Mexico's macroeconomic fluctuations after NAFTA. This partly reflects greater trade integration-but also Mexico's "Great Moderation," as the country escaped its former pattern of macro-financial crises. In this period, Mexico's output fluctuations have been closely synchronized with the U.S. cycle, with a large and rapid impact of U.S. shocks on Mexican growth. | ||
| 505 | 0 | |a I. Introduction; II. The Econometric Model; A. Specification and Identification Strategy; B. Block Structure, Variables, and Data; C. Estimation Issues; III. The Role of U.S. Demand and Other External Shocks in Mexican Output Fluctuations.; Tables; 1. Variance Decomposition of Mexican Real Output: Post-NAFTA Period; 2. Size of the Shocks and Output Response in Mexico: Post-NAFTA; Figures; 1. Response of Real Output to a U.S. Industrial Production Shock; 3. Variance Decomposition of Mexican Real Output: Post-NAFTA Period (Using U.S. GDP as a Proxy for U.S. Demand). | |
| 505 | 8 | |a 4. Variance Decomposition of Mexican Real Output: Post-NAFTA Period (Using U.S. Imports as a Proxy for U.S. Demand)2. Response of Real Output to a U.S. GDP Shock; 5. Variance Decomposition of Mexican Real Output: Post-NAFTA Period (Using U.S. Real Interest Rate as a Proxy for International Financial Conditions); 3. Response of Real Output to a U.S. Imports Shock; 6. Variance Decomposition of Mexican Real Output: Post-NAFTA Period (Using VIX Volatility Index as a Proxy for International Financial Conditions). | |
| 505 | 8 | |a 7. Variance Decomposition of Mexican Real Output: Post-NAFTA Period (Using Junk Bond Yields as a Proxy for International Financial Conditions)8. Variance Decomposition of Mexican Real Output: 1980Q1-2007Q2; 9. Size of the Shocks and Output Response in Mexico: 1980Q1-2007Q2; 4. Response of Real Output to a U.S. Demand Shock (Post-NAFTA and 1980-2007); IV. Capturing U.S. Demand Linkages to Mexico: Which U.S. Variables Help Explain Fluctuations in Mexican Economic Activity?; A. Bivariate VARs: Variance Decomposition Analysis; B. Synchronization Between the U.S. and Mexican Economies. | |
| 505 | 8 | |a 10. Mexican GDP and U.S. Variables: Bivariate VARs11. Mexican Exports and U.S. Variables: Bivariate VARs; 5. Synchronization Between Mexican GDP and U.S. Variables; 12. Cross Correlations of Mexican GDP and U.S. Variables; 13. Cross Correlations of Mexican Exports and U.S. Variables; 6. Synchronization Between Mexican Exports and U.S. Variables; V.U.S. Shocks and Business Cycle Fluctuations in Mexico: Potential Spillovers and Channels of Transmission; 7. Synchronization Between Mexican GDP (Services) and U.S. Variables; A. Explaining Services Sector GDP, with Unrestricted VAR Models. | |
| 505 | 8 | |a 14. Cross Correlations of Mexican GDP (Services) and U.S. Variables15. Variance Decomposition of Mexico's Real Output in Services; 16. Variance Decomposition of Mexico's Real Output in Services (Using U.S. GDP as a Proxy for U.S. Demand); 8. Response of Real Output in Services to a U.S. Industrial Production Shock; 17. Variance Decomposition of Mexico's Real Output in Services (Using U.S. Imports as a Proxy for U.S. Demand); 9. Response of Real Output in Services to a U.S. GDP Shock; 10. Response of Real Output in Services to a U.S. Imports Shock; B. Channels Other Than External Trade? | |
| 504 | |a Includes bibliographical references. | ||
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 651 | 0 | |a Mexico. | |
| 651 | 0 | |a United States. | |
| 651 | 7 | |a Mexico |2 fast |1 https://id.oclc.org/worldcat/entity/E39QbtfRkxCrqQ3XXbCkdP63kc | |
| 651 | 7 | |a United States |2 fast |1 https://id.oclc.org/worldcat/entity/E39PBJtxgQXMWqmjMjjwXRHgrq | |
| 700 | 1 | |a Sosa, Sebastian. | |
| 710 | 2 | |a International Monetary Fund. | |
| 730 | 0 | |a IMF eLibrary. | |
| 758 | |i has work: |a External Shocks and Business Cycle Fluctuations in Mexico (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGFRdfxrBKbCtYT9bXxrHK |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Sosa, Sebastian. |t External Shocks and Business Cycle Fluctuations in Mexico: How Important are U.S. Factors? |d Washington : International Monetary Fund, ©2008 |z 9781451869613 |
| 830 | 0 | |a IMF working paper ; |v WP/08/100. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1607845 |z Texto completo |
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