Financial Liberalization, Structural Change, and Real Exchange Rate Appreciations /
We account for the appreciation of the real exchange rate in Mexico between 1988 and 2002 using a two sector dynamic general equilibrium model of a small open economy with two driving forces: (i) differential productivity growth across sectors and (ii) a decline in the cost of borrowing in foreign m...
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| その他の著者: | |
| フォーマット: | 雑誌 |
| 言語: | English |
| 出版事項: |
Washington, D.C. :
International Monetary Fund,
2010.
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| シリーズ: | IMF Working Papers; Working Paper ;
No. 2010/063 |
| オンライン･アクセス: | Full text available on IMF |
| 要約: | We account for the appreciation of the real exchange rate in Mexico between 1988 and 2002 using a two sector dynamic general equilibrium model of a small open economy with two driving forces: (i) differential productivity growth across sectors and (ii) a decline in the cost of borrowing in foreign markets. These two mechanisms account for 60 percent of the decline in the relative price of tradable goods and explain a large fraction of the reallocation of labor across sectors. We do not find a significant role for migration remittances, foreign reserves accumulation, government spending, terms of trade, or import tariffs. |
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| 記述事項: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| 物理的記述: | 1 online resource (40 pages) |
| フォーマット: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| アクセス: | Electronic access restricted to authorized BRAC University faculty, staff and students |