Determinantes fundamentales del tipo de cambio real de largo plazo aplicaciones para el caso mexicano
The real exchange rate is one of the leading indicators that describes the evolution of an economy in the international markets. This indicator measures not only the exchange relationship between goods among trading partners, but also, the relative competitiveness of the tradable sector among tradin...
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| フォーマット: | article |
| 言語: | spa |
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2001
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| オンライン･アクセス: | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/153 |
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タグ追加 | 要約: | The real exchange rate is one of the leading indicators that describes the evolution of an economy in the international markets. This indicator measures not only the exchange relationship between goods among trading partners, but also, the relative competitiveness of the tradable sector among trading partners. Several theories have been developed to explain the long run movements of the real exchange rate. This paper analyzes both theoretically and empirically two of the main theories: the Power Parity Purchasing Theory and the Productivity Approach. This paper present for the Mexican case, during the period 1970-1995, a cointegration analysis showing that the Power Parity Purchasing theory 1s supported by the data, in the period before exchange rate flexibilization. Since that date, the Productivity Approach explains more accurately the movements ot the real exchange rate |
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