03877nam 2200601Ia 450 991045261940332120200520144314.01-4755-4839-71-4755-7660-9(CKB)2550000000107534(EBL)1606771(SSID)ssj0000941831(PQKBManifestationID)11967092(PQKBTitleCode)TC0000941831(PQKBWorkID)10963950(PQKB)11210153(MiAaPQ)EBC1606771(Au-PeEL)EBL1606771(CaPaEBR)ebr10579620(OCoLC)870245004(EXLCZ)99255000000010753420111102d2012 uy 0engur|n|---|||||txtccrIntra-regional spillovers in South America[electronic resource] is Brazil systemic after all? /Gustavo Adler and Sebastián SosaWashington, D.C. International Monetary Fundc20121 online resource (23 p.)IMF working paper ;12/145Description based upon print version of record.1-4755-2412-9 1-4755-0408-X Includes bibliographical references.Cover; Contents; I. Introduction; Figures; 1. Latin America's Large Neighbors, 2010; Tables; 1. Business Cycle Comovement with Large Neighbors, 1990:Q1-2011:Q4; II. Export Linkages with Brazil; 2. South America: Exports of Goods by Region, 1990-2010; 3. South America: Intra-Regional Exports of Goods 1990-2010; III. How Important are Spillovers from Brazil? A VAR Approach; 4. South America's Exports: Exposure to Brazil, 1990-2010; 5. Export Performance in Brazil's Neighbors, 1990-2011; A. Impact of Brazil-Idiosyncratic Shocks; 6. Output Response to a Shock to Brazil's OutputB. Amplification of Global Shocks2. Cumulative Impact on Output; 7. Output Response to a VIX Shock: Brazil's Amplifying Role; C. Variance Decomposition Analysis; IV. The Impact of Brazilian Real Depreciations; 8. Variance Decomposition of Output; 9. Real Exchange Rate Depreciation in Brazil: Export Performance in Southern Cone Neighbors; V. Conclusions; 10. Responses to a Shock to Brazil's Real Exchange Rate; Appendix Figures; 1. South America: Exports of Goods by Region, 1990-2010 (Percent of Total Exports); 2. South America: Exports of Goods by Region, 1990-2010 (Percent of GDP)3. Output Response to a Shock to Global Output4. Output Response to a Shock to the VIX; 5. Output Response to a Shock to Commodity Prices; 6. Output Response to a Shock to Argentina's Output; 7. Real Exchange Rate Depreciation in Brazil: Export Performance in Southern Cone Neighbors; ReferencesShocks stemming from Brazil - the large neighbor in South America - have historically been a source of concern for policy-makers in other countries of the region. This paper studies the importance of Brazil's influence on its neighboring economies, documenting trade linkages over the last two decades and quantifying spillover effects in a Vector Auto Regression setting. While trade linkages with Brazil are significant for the Southern Cone countries (Argentina, Bolivia, Chile, Paraguay, and Uruguay), they are very weak for others. Consistent with this evidence, econometric results show that, wIMF working paper ;12/145.Investments, ForeignBrazilBrazilForeign economic relationsElectronic books.Investments, ForeignAdler Gustavo1974-866245Sosa Sebastian867567MiAaPQMiAaPQMiAaPQBOOK9910452619403321Intra-regional spillovers in South America2067659UNINA