External shocks and business cycle fluctuations in Mexico [Elektronisk resurs] : how important are U.S. factors? / prepared by Sebastián Sosa.
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Sosa, Sebastian. (författare)
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International Monetary Fund. Western Hemisphere Dept.
- [Washington, D.C.?] : International Monetary Fund, c2008.
- Engelska 31 p.
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Serie: IMF working paper ; WP/08/100
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Sammanfattning
Ämnesord
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- 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)
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