The role of permanent and transitory components in the fluctuations of Latin-American real exchange rates

Gabriel Rodríguez, Indira Romero

Producción científica: Contribución a una revistaArtículorevisión exhaustiva

2 Citas (Scopus)

Resumen

Following the approach suggested by Engel and Kim (1999), we estimate the permanent and transitory components of the real exchange rates in four Latin-American countries for the period 1957:01 to 2002:04. Results suggest that transitory component is the driving force of the real exchange rates in Argentina and Mexico. A principal role of the permanent component is observed in the real exchange rates of Brazil and Chile. Estimates probabilities of the high-variance regime allow to identify the principal events happened in these countries. This information is closely related to nominal shocks and therefore, it explains the significant role of this component in these countries.

Idioma originalInglés
Páginas (desde-hasta)2713-2722
Número de páginas10
PublicaciónApplied Economics
Volumen39
N.º21
DOI
EstadoPublicada - dic. 2007
Publicado de forma externa

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