dc.contributor.author
López Villavicencio, Antonia
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Raymond Bara, José Luis
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Universitat Autònoma de Barcelona. Departament d'Economia Aplicada
dc.identifier
https://ddd.uab.cat/record/44396
dc.identifier
urn:oai:ddd.uab.cat:44396
dc.description.abstract
This paper explores the real exchange rate behavior in Mexico from 1960 until 2005. Since the empirical analysis reveals that the real exchange rate is not mean reverting, we propose that economic fundamental variables affect its evolution in the long-run. Therefore, based on equilibrium exchange rate paradigms, we propose a simple model of real exchange rate determination which includes the relative labor productivity, the real interest rates and the net foreign assets over a long period of time. Our analysis also considers the dynamic adjustment in response to shocks through impulse response functions derived from the multivariate VAR model.
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application/pdf
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Departament d'Economia Aplicada. Documents de treball ;
dc.rights
Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial, la distribució, i la comunicació pública de l'obra, sempre que no sigui amb finalitats comercials, i sempre que es reconegui l'autoria de l'obra original. No es permet la creació d'obres derivades.
dc.rights
https://creativecommons.org/licenses/by-nc-nd/2.5/
dc.subject
Canvi exterior
dc.title
The short and long-run determinants of the real exchange rate in Mexico
