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[null,"1.","Record Nr.",null,"UNINA9910788239503321"]
[null,null,"Autore",null,"Sosa Sebastian"]
[null,null,"Titolo",null,"External Shocks and Business Cycle Fluctuations in Mexico : : How Important are U.S. Factors? / / Sebastian Sosa"]
[null,null,"Pubbl/distr/stampa",null,"Washington, D.C. : , : International Monetary Fund, , 2008"]
[null,null,"ISBN",null,"1-4623-5277-4"]
[{"$nulls":4},"1-4527-7229-0"]
[{"$nulls":4},"1-282-84055-X"]
[{"$nulls":4},"1-4518-6961-4"]
[{"$nulls":4},"9786612840555"]
[null,null,"Descrizione fisica",null,"1 online resource (33 p.)"]
[null,null,"Collana",null,"IMF Working Papers"]
[{"$nulls":4},"IMF working paper ; ; WP/08/100"]
[null,null,"Disciplina",null,"338.542"]
[null,null,"Soggetti",null,"Business cycles - Mexico - Econometric models"]
[{"$nulls":4},"Exports and Imports"]
[{"$nulls":4},"Macroeconomics"]
[{"$nulls":4},"Industries: General"]
[{"$nulls":4},"Trade: General"]
[{"$nulls":4},"Macroeconomics: Production"]
[{"$nulls":4},"Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)"]
[{"$nulls":4},"Energy: Demand and Supply"]
[{"$nulls":4},"Prices"]
[{"$nulls":4},"International economics"]
[{"$nulls":4},"Economic growth"]
[{"$nulls":4},"Industrial production"]
[{"$nulls":4},"Exports"]
[{"$nulls":4},"Imports"]
[{"$nulls":4},"Business cycles"]
[{"$nulls":4},"Oil prices"]
[{"$nulls":4},"Industries"]
[{"$nulls":4},"Mexico Foreign economic relations United States Econometric models"]
[{"$nulls":4},"Mexico Economic conditions Econometric models"]
[{"$nulls":4},"United States"]
[null,null,"Lingua di pubblicazione",null,"Inglese"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,null,null,"Note generali","Description based upon print version of record."]
[null,null,null,"Nota di bibliografia","Includes bibliographical references."]
[null,null,"Nota di contenuto",null,"Contents; 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)"]
[{"$nulls":4},"4. Variance Decomposition of Mexican Real Output: Post-NAFTA Period (Using U.S. Imports as a Proxy for U.S. Demand)2. Response of Real Output to a U.S. GDP Shock; 5. Variance Decomposition of Mexican Real Output: Post-NAFTA Period (Using U.S. Real Interest Rate as a Proxy for International Financial Conditions); 3. Response of Real Output to a U.S. Imports Shock; 6. Variance Decomposition of Mexican Real Output: Post-NAFTA Period (Using VIX Volatility Index as a Proxy for International Financial Conditions)"]
[{"$nulls":4},"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"]
[{"$nulls":4},"10. Mexican GDP and U.S. Variables: Bivariate VARs11. Mexican Exports and U.S. Variables: Bivariate VARs; 5. Synchronization Between Mexican GDP and U.S. Variables; 12. Cross Correlations of Mexican GDP and U.S. Variables; 13. Cross Correlations of Mexican Exports and U.S. Variables; 6. Synchronization Between Mexican Exports and U.S. Variables; V. U.S. Shocks and Business Cycle Fluctuations in Mexico: Potential Spillovers and Channels of Transmission; 7. Synchronization Between Mexican GDP (Services) and U.S. Variables; A. Explaining Services Sector GDP, with Unrestricted VAR Models"]
[{"$nulls":4},"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?"]
[{"$nulls":4},"VI. Concluding Remarks"]
[null,null,null,"Sommario/riassunto","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."]