External shocks and business cycle fluctuations in Mexico [Elektronisk resurs] : how important are U.S. factors? / prepared by Sebastián Sosa.

• 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. 

Ämnesord

Business cycles  -- Mexico -- Econometric models. (LCSH)

Cycles économiques  -- Mexique -- Modèles économétriques. (Vedettes-matière)

Mexico  -- Foreign economic relations -- United States -- Econometric models. (LCSH)

Mexico  -- Economic conditions -- Econometric models. (LCSH)

United States  -- Economic conditions -- Econometric models. (LCSH)

Mexique  -- Relations économiques extérieures -- États-Unis -- Modèles économétriques. (Vedettes-matière)

Mexique  -- Conditions économiques -- Modèles économétriques. (Vedettes-matière)

États-Unis  -- Conditions économiques -- Modèles économétriques. (Vedettes-matière)

Klassifikation

HG3881.5.I58 (LCC)