Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies / / Enrique Mendoza
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| Autore: |
Mendoza Enrique
|
| Titolo: |
Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies / / Enrique Mendoza
|
| Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2006 |
| Edizione: | 1st ed. |
| Descrizione fisica: | 1 online resource (34 p.) |
| Soggetto topico: | Foreign exchange rates - Mexico - Econometric models |
| Prices - Mexico | |
| Foreign exchange rates - Developing countries - Econometric models | |
| Foreign Exchange | |
| Macroeconomics | |
| Money and Monetary Policy | |
| Macroeconomics: Consumption | |
| Saving | |
| Wealth | |
| Monetary Policy, Central Banking, and the Supply of Money and Credit: General | |
| Currency | |
| Foreign exchange | |
| Monetary economics | |
| Real exchange rates | |
| Consumption | |
| Managed exchange rates | |
| Exchange rate arrangements | |
| Credit | |
| Economics | |
| Soggetto geografico: | Mexico |
| Note generali: | "March 2006". |
| Nota di bibliografia: | Includes bibliographical references. |
| Nota di contenuto: | ""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"" |
| Sommario/riassunto: | 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. |
| Titolo autorizzato: | Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies |
| ISBN: | 1-4623-8714-4 |
| 1-4527-5216-8 | |
| 1-282-44833-1 | |
| 1-4519-0883-0 | |
| 9786613821522 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910814668903321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2006/088