TY  - BOOK
AU  - Dabós,Marcelo P.
AU  - Juan-Ramon,V.Hugo
TI  - Real Exchange Rate Response to Capital Flows in Mexico: An Empirical Analysis 
T2  - IMF Working Papers; Working Paper
SN  - 1451853092 :
SN  - 1018-5941
PY  - 2000///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Capital Inflow
KW  - imf
KW  - Capital Inflows
KW  - Equilibrium-Correction Model
KW  - Exchange Rate
KW  - Export Real Exchange Rate
KW  - Productivity
KW  - Mexico
N2  - This study shows that in Mexico there is a long-run relationship between the real exchange rate and capital inflows, the external terms of trade, and productivity in the manufacturing sector. A once-and-for-all unit increase in the ratio of quarterly capital inflow to quarterly (annualized) GDP causes a long-run real appreciation of the peso of about 12 percent. The analysis also reveals a structural break in 1995, which coincides with the change to a floating exchange rate arrangement, and an overvaluation of the peso in real terms on the eve of the end-1994 crisis in the range of 12 to 25 percent
UR  - http://elibrary.imf.org/view/IMF001/05552-9781451853094/05552-9781451853094/05552-9781451853094.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451853094
ER  -