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Analysis of output fluctuations in Mexico: application of the Romer model and the Taylor rule

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  • Yu Hsing

Abstract

Extending the Romer (2000) model and the Taylor (1993; 1998; 1999) rule, this paper derives theoretical relationships between equilibrium output in Mexico and a change in the exchange rate, stock values, or the world interest rate. Empirical results show that more deficit spending, higher stock prices, real peso appreciation, a lower federal funds rate, more world output, and lower expected inflation would help raise the Mexican output. The central bank plays a major role in determining the directions and magnitude of these impacts.

Suggested Citation

  • Yu Hsing, 2005. "Analysis of output fluctuations in Mexico: application of the Romer model and the Taylor rule," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 7(4), pages 353-362.
    • Handle: RePEc:ids:gbusec:v:7:y:2005:i:4:p:353-362
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