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El traspaso de movimientos del tipo de cambio a los precios: Un análisis para la economía Mexicana
- Publication Year :
- 2011
- Publisher :
- Ciudad de México: Banco de México, 2011.
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Abstract
- This paper analyzes the pass-through of exchange rate to different price indexes in Mexico. The analysis is based on a vector autoregressive model (VAR) using monthly data from January 1997 to December 2010. The pass-through effects are calculated by means of accumulated impulse response functions to a recursively identified exchange rate shock. The results show that the exchange rate pass-through to import prices is complete, but it declines along the distribution chain in such a way that the impact on consumer prices is below 20 percent. Moreover, we find that the exchange rate pass-through seems to have decreased substantially from 2001 onwards, which coincides with the adoption of an inflation targeting regime by Banco de Mexico.
Details
- Language :
- Spanish; Castilian
- Database :
- OpenAIRE
- Accession number :
- edsair.od......1687..5aa2497ba2e7b04ffd7bc17831215f8a