Spillovers Across Nafta:
This paper examines linkages across North America by estimating the size of spillovers from the major regions of the world-the United States, euro area, Japan, and the rest of the world-to Canada and Mexico, and decomposing the impact of these spillovers into trade, commodity price, and financial ma...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2008
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| Schriftenreihe: | IMF Working Papers
Working Paper No. 08/3 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper examines linkages across North America by estimating the size of spillovers from the major regions of the world-the United States, euro area, Japan, and the rest of the world-to Canada and Mexico, and decomposing the impact of these spillovers into trade, commodity price, and financial market channels. For Canada, a one percent shock to U.S. real GDP shifts Canadian real GDP by some 3⁄4 of a percentage point in the same direction- with financial spillovers more important than trade in recent decades. Thus, a large proportion of the reduction in Canadian output volatility since the 1980s can be accounted for by the ""Great Moderation"" in U.S. growth. Before 1996, domestic volatility in Mexico swamped the contribution of external factors to the business cycle. After 1996, the response of Mexican GDP is 11⁄2 times the size of the U.S. shock-""when the U.S. sneezes, Mexico catches a cold"". These spillovers are transmitted through both trade and financial channels |
| Beschreibung: | 1 Online-Ressource (32 p) |
| ISBN: | 1451868650 9781451868654 |
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| id | DE-604.BV048348378 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:25Z |
| indexdate | 2024-07-10T09:35:33Z |
| institution | BVB |
| isbn | 1451868650 9781451868654 |
| language | English |
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| oclc_num | 1337140081 |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Bayoumi, Tamim Verfasser aut Spillovers Across Nafta Bayoumi, Tamim Washington, D.C International Monetary Fund 2008 1 Online-Ressource (32 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 08/3 This paper examines linkages across North America by estimating the size of spillovers from the major regions of the world-the United States, euro area, Japan, and the rest of the world-to Canada and Mexico, and decomposing the impact of these spillovers into trade, commodity price, and financial market channels. For Canada, a one percent shock to U.S. real GDP shifts Canadian real GDP by some 3⁄4 of a percentage point in the same direction- with financial spillovers more important than trade in recent decades. Thus, a large proportion of the reduction in Canadian output volatility since the 1980s can be accounted for by the ""Great Moderation"" in U.S. growth. Before 1996, domestic volatility in Mexico swamped the contribution of external factors to the business cycle. After 1996, the response of Mexican GDP is 11⁄2 times the size of the U.S. shock-""when the U.S. sneezes, Mexico catches a cold"". These spillovers are transmitted through both trade and financial channels Online-Ausg Swiston, Andrew Sonstige oth http://elibrary.imf.org/view/IMF001/08901-9781451868654/08901-9781451868654/08901-9781451868654.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Bayoumi, Tamim Spillovers Across Nafta |
| title | Spillovers Across Nafta |
| title_auth | Spillovers Across Nafta |
| title_exact_search | Spillovers Across Nafta |
| title_exact_search_txtP | Spillovers Across Nafta |
| title_full | Spillovers Across Nafta Bayoumi, Tamim |
| title_fullStr | Spillovers Across Nafta Bayoumi, Tamim |
| title_full_unstemmed | Spillovers Across Nafta Bayoumi, Tamim |
| title_short | Spillovers Across Nafta |
| title_sort | spillovers across nafta |
| url | http://elibrary.imf.org/view/IMF001/08901-9781451868654/08901-9781451868654/08901-9781451868654.xml |
| work_keys_str_mv | AT bayoumitamim spilloversacrossnafta AT swistonandrew spilloversacrossnafta |