03986oam 22009854 450 991081466890332120240410162458.01-4623-8714-41-4527-5216-81-282-44833-11-4519-0883-09786613821522(CKB)3360000000443190(EBL)3014386(SSID)ssj0000943037(PQKBManifestationID)11593658(PQKBTitleCode)TC0000943037(PQKBWorkID)10974787(PQKB)10648351(OCoLC)698585639(MiAaPQ)EBC3014386(IMF)WPIEE2006088(EXLCZ)99336000000044319020020129d2006 uf 0engur|n|---|||||txtccrReal Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies /Enrique Mendoza1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (34 p.)IMF Working Papers"March 2006".1-4518-6348-9 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. VARIANCE ANALYSIS OF THE PESO-DOLLAR REAL EXCHANGE RATE""; ""III. SUDDEN STOPS AND NONTRADABLES-DRIVEN REAL EXCHANGE RATE VOLATILITY""; ""IV. CONCLUSIONS""; ""REFERENCES""This paper shows that the dominant view that the high variability of real exchange rates is due to movements in exchange rate-adjusted prices of tradable goods does not hold for Mexican data for periods with a managed exchange rate. The relative price of nontradables accounts for up to 70 percent of real exchange rate variability during these periods. The paper also proposes a model in which this fact, and the sudden stops that accompanied the collapse of Mexico's managed exchange rates, could result from a Fisherian debt-deflation mechanism operating via nontradables prices in economies with dollarized liabilities.IMF Working Papers; Working Paper ;No. 2006/088Foreign exchange ratesMexicoEconometric modelsPricesMexicoForeign exchange ratesDeveloping countriesEconometric modelsForeign ExchangeimfMacroeconomicsimfMoney and Monetary PolicyimfMacroeconomics: ConsumptionimfSavingimfWealthimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfCurrencyimfForeign exchangeimfMonetary economicsimfReal exchange ratesimfConsumptionimfManaged exchange ratesimfExchange rate arrangementsimfCreditimfEconomicsimfMexicoimfForeign exchange ratesEconometric models.PricesForeign exchange ratesEconometric models.Foreign ExchangeMacroeconomicsMoney and Monetary PolicyMacroeconomics: ConsumptionSavingWealthMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralCurrencyForeign exchangeMonetary economicsReal exchange ratesConsumptionManaged exchange ratesExchange rate arrangementsCreditEconomicsMendoza Enrique119545DcWaIMFBOOK9910814668903321Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies4071958UNINA