Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies / / Enrique Mendoza

• Autore: Mendoza Enrique
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2006
• 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.: 9910788525103321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2006/088