Volatilidad del tipo de cambio y tasas de interés en México: 1996-2001
AbstractIt is argued that in Mexico there is not a fear of floating in the Calvo-Reinhart sense and that the market, as a result of the monetary policy instrument (corto), has determined a reatively stable exchange rate and more volatile interest rates. Thus, thé instantaneous interest rate response to exogenous shocks limits the exchange rate role as a buffer to the referred disturbances. Empirical evidence shows that explicit interest rate targets result in higher exchange rate volatility and lower interest rate variability.
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Bibliographic InfoArticle provided by in its journal Economia Mexicana NUEVA EPOCA.
Volume (Year): XI (2002)
Issue (Month): 2 (July-December)
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