Devaluations and aggregate output fluctuations: a random coefficient regression model for Mexico

References

• Barbone , L. and Rivera-Batiz , F. 1987 . Foreign capital and the contractionary impact of currency devaluation, with application to Jamaica . Journal of Development Economics , 26 ( 1 ) : 1 – 15 .
   Web of Science ®Google Scholar
• Bernanke , B. and Gertler , M. 1995 . Inside the black-box: the credit channel of monetary policy transmission . Journal of Economic Perspectives , 9 : 27 – 48 .
   Web of Science ®Google Scholar
• Bhagwati , J. N. , ed. 1982 . Import Competition and Response , Chicago : University of Chicago Press .
   Google Scholar
• CEPAL . 1990 . Postwar Transfer of Resources Abroad by Latin America , Chile : Santiago .
   Google Scholar
• Diaz-Alejandro , C. 1963 . A note on the impact of devaluation and the redistributive effect . Journal of Political Economy , 71 : 577 – 580 .
   Web of Science ®Google Scholar
• Diaz-Alejandro , C. 1965 . Exchange-Rate Devaluation in a Semi-Industrialized Country: The Experience of Argentina 1955–1961 , Cambridge : MIT Press .
   Google Scholar
• Dixit , A. and Rob , R. 1994 . Risk-sharing, adjustment, and trade . Journal of International Economics , 36 : 263 – 287 .
   Web of Science ®Google Scholar
• Dornbusch , R. and Werner , A . 1994 . Mexico: stabilization, reform, and no growth . Brookings Papers on Economic Activity , 1 : 253 – 315 .
   Google Scholar
• Economist Intelligence Unit . 1997 . Mexico: Country Report, 1st Quarter London , , UK
   Google Scholar
• Edwards , S. 1986 . Are devaluations contractionary . The Review of Economics and Statistics , 68 : 501 – 508 .
   Web of Science ®Google Scholar
• Edwards , S. 1989 . Real Exchange Rates, Devaluation and Adjustment , Cambridge : MIT Press .
   Google Scholar
• Edwards , S. and Larrain , F. 1989 . “ Debt, adjustment and recovery in Latin America: an introduction ” . In Debt, Adjustment and Recovery: Latin America's Prospects for Growth and Development , Edited by: Edwards , S. and Larrain , F. Cambridge : Oxford . Basil Blackwell
   Google Scholar
• Gertler , M. and Gilchrist , S. 1994 . Monetary policy, business cycles, and the behavior of small manufacturing firms . Quarterly Journal of Economics , 109 : 309 – 340 .
   Web of Science ®Google Scholar
• Gylfasson , T. and Schmid , M. 1983 . Does devaluation cause stagflation? . Canadian Journal of Economics and Political Science , 16 : 641 – 654 .
   Web of Science ®Google Scholar
• Judge , G. G. , Griffits , W. E. , Hill , R. C. , Lütkepohl , H. and Lee , T. 1985 . The Theory and Practice of Econometrics , New York : John Wiley and Sons .
   Google Scholar
• International Monetary Fund . 1995 . International Capital Markets: Developments, Prospects, and Policy Issues Washington , District of Columbia
   Google Scholar
• Krugman , P. and Taylor , L. 1978 . Contractionary effects of devaluations . Journal of International Ecomomics , 8 : 445 – 456 .
   Web of Science ®Google Scholar
• Meade , J. E. 1951 . Theory of International Economic Policy, I: The Balance of Payments , Oxford : Oxford University Press .
   Google Scholar
• Obstfeld , M. and Rogoff , K. 1995 . The mirage of fixed exchange rates . Journal of Economic Perspectives , 9 : 73 – 96 .
   Web of Science ®Google Scholar
• Rebelo , S. and Végh , C. A. 1995 . Real effects of exchange-rate-based stabilization: an analysis of competing theories . NBER Macroeconomics Annual , 10 : 125 – 174 .
   Google Scholar
• Romer , C. and Romer , D. 1989 . Does monetary policy matter? A new test in the spirit of Friedman and Schwartz . NBER Macroeconomics Annual , 4 : 121 – 170 .
   Web of Science ®Google Scholar
• Swamy , P. A. V. B. 1970 . Efficient inference in a random coefficient regression model . Econometrica , 38 : 311 – 323 .
   Web of Science ®Google Scholar
• Tello , C. 1984 . La Nacionalización de la Banca en México , Mexico City : Siglo Veintiuno .
   Google Scholar