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Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies

Mendoza, Enrique G. - International Monetary Fund (IMF) - 2006

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...

Persistent link: https://www.econbiz.de/10005264110

Net Foreign Assets and International Adjustment; The United States, Japan, and Germany

Horne, Jocelyn; Masson, Paul R.; Kremers, Jeroen J. M. - International Monetary Fund (IMF) - 1993

This paper examines external adjustment in the United States, Japan and Germany from the perspective of net foreign asset positions. It asks two questions: What are, in the long run, the determinants of net foreign asset equilibrium? and: What are, in the short run, some of the adjustment...

Persistent link: https://www.econbiz.de/10005604961

A Quantitative Examination of Current Account Dynamics in Equilibrium Models of Barter Economies

Mendoza, Enrique G. - International Monetary Fund (IMF) - 1992

subject to random shocks affecting endowments, the terms of trade, and the real interest rate. Equilibrium stochastic … mimics the Harberger-Laursen-Metzler effect, but cannot account for a countercyclical trade balance, the variability of the … real exchange rate, and the income elasticity of imports. The results also show that the correlation between the trade …

Persistent link: https://www.econbiz.de/10005605153