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effects of a well-known sudden stop, in Mexico in the mid-1990s, confirms that a drop in output accompanying a sudden stop …
Persistent link: https://www.econbiz.de/10012467552
Firm- and plant-level empirical studies typically find that trade liberalization squeezes price-cost margins among import-competing firms, that this heightened competitive pressure induces productivity gains among these same firms, and that further efficiency gains come from market share...
Persistent link: https://www.econbiz.de/10012468750
recent currency crises: Korea (1997), Mexico (1994) and Turkey (2001) …
Persistent link: https://www.econbiz.de/10012468912
) rollover defaults. For the quantitative evaluation of the model, we focus on Mexico and carefully discuss the successes and …
Persistent link: https://www.econbiz.de/10012456549
A controversial issue in the US is how to reduce the number of illegal immigrants and what effect this would have on the US economy. To answer this question we set up a two-country model with search in labor markets and featuring legal and illegal immigrants among the low skilled. We calibrate...
Persistent link: https://www.econbiz.de/10012458733
The current account reversals, large recessions, and price collapses that define Sudden Stops contradict the predictions of a large class of models in which the current account is a vehicle for consumption smoothing and investment financing. This paper shows that the quantitative predictions of...
Persistent link: https://www.econbiz.de/10012466098
This paper deals with the relationship between inflation targeting and exchange rates. I address three specific issues: first, I analyze the effectiveness of nominal exchange rates as shock absorbers in countries with inflation targeting. This issue is closely related to the magnitude of the...
Persistent link: https://www.econbiz.de/10012466531
The 1990s emerging-markets crises were characterized by sudden reversals in inflows of foreign capital followed by unusually large declines in current account deficits, private expenditures, production, and prices of nontradable goods relative to tradables. This paper shows that these Sudden...
Persistent link: https://www.econbiz.de/10012470386
use our model and the data to interpret the recent currency crises in Mexico and Korea. Our analysis suggests that the …
Persistent link: https://www.econbiz.de/10012470447
-sharing opportunities. This paper presents some preliminary empirical evidence on the behavior of consumer prices in Mexico that suggests …
Persistent link: https://www.econbiz.de/10012470848