| 說明 |
1 online resource (27 pages) |
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text txt rdacontent |
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computer c rdamedia |
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online resource cr rdacarrier |
| 系列 |
IMF Working Papers |
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IMF Working Papers
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| 附註 |
Intro -- CONTENTS -- I. Introduction -- II. Nonlinear Dynamics in Real Exchange Rates -- A. Theoretical Underpinnings -- B. Estimation Methodology and SETAR Model -- C. Testing Procedures -- III. Estimation Results -- A. Testing for Nonlinear Price Convergence -- B. Estimated Transaction Costs -- C. Robustness of Results -- D. Half-Lives -- IV. Determinants of Thresholds in Real Exchange Rates -- V. Summary of Results and Conclusion -- Figure -- 1. Extent of Price Convergence between Mexico-U.S. and Canada-U.S -- Tables -- 1. SETAR Estimation Results -- 2. SETAR Estimation Results (Detrended Data) -- 3. SETAR Estimation Results (Controlling for Different Mean during Tequila Crisis) -- 4. Estimation of Half-Lives for Sectoral Real Exchange Rates (In Months) -- 5. SETAR Estimation Results for Aggregate Price Indices -- 6. Threshold Regressions -- Box -- 1. Real Exchange Rate Thresholds at the Aggregate CPI Level -- References |
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A self-exciting threshold autoregressive model is used to measure transaction costs that may explain relative price differentials and nonlinearities in the behavior of sectoral real exchange rates across Mexico, Canada and the U.S. Interpreting price threshold bands as transactions costs, we find evidence that Mexico still face higher transaction costs than their developed counterparts, even though trade liberalization lowers relative price differentials between countries. The distance between countries and nominal exchange rate volatility are found to be determinants of transaction costs that limit price convergence. Other factors-including weak domestic competition and transportation-are also likely to be important |
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Description based on publisher supplied metadata and other sources |
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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2020. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries |
| 鏈接 |
Print version: Juvenal, Luciana Mexico's Integration into NAFTA Markets : A View from Sectoral Real Exchange Rates and Transaction Costs
Washington : International Monetary Fund,c2008 9781451869835
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| 主題 |
Canada. -- Treaties, etc., -- 1992 October 7.;Foreign exchange rates -- Mexico.;Foreign exchange rates -- United States.;Foreign exchange rates -- Canada.;North America -- Economic integration
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Electronic books
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| Alt Author |
Blavy, Rodolphe
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