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|z 9781451863482
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|a 1018-5941
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|a Mendoza, Enrique.
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|a Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies /
|c Enrique Mendoza.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2006.
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|a 1 online resource (34 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2006/088
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2006/088/001.2006.issue-088-en.xml
|z IMF e-Library
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