Made in Mexico: Energy Reform and Manufacturing Growth:
This paper assesses the real effects of the energy reform in Mexico by looking at its impact on manufacturing output through changes in energy prices. Using sub-sector and state-level manufacturing output data, along with past variation in energy prices, we find electricity prices--relative to oil a...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2015
|
| Schriftenreihe: | IMF Working Papers: Working Paper No. 15 / 45
|
| 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 assesses the real effects of the energy reform in Mexico by looking at its impact on manufacturing output through changes in energy prices. Using sub-sector and state-level manufacturing output data, along with past variation in energy prices, we find electricity prices--relative to oil and gas--to be more important in the manufacturing process, with a one standard deviation reduction in electricity prices leading to a 2.8 percent increase in manufacturing output. Our estimated elasticities together with plausible reductions in electricity tariffs derived from the energy reform, could increase manufacturing output by up to 3.6 percent, and overall real GDP by 0.6 percent. Larger reductions are possible over the long run if increased efficiency in the sector leads electricity prices to converge to U.S. levels. Moreover, including the impact of lower electricity tariffs on the services sector, could lead to significantly larger effects on GDP. Accounting for endogeneity of unit labor costs in a panel VAR setting leads to an additional indirect channel which amplifies the impact of electricity prices on output |
| Beschreibung: | 1 Online-Ressource (30 p) |
| ISBN: | 1498333214 9781498333214 |
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| id | DE-604.BV048355419 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:36Z |
| indexdate | 2024-07-10T09:35:46Z |
| institution | BVB |
| isbn | 1498333214 9781498333214 |
| language | English |
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| oclc_num | 1337141094 |
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| record_format | marc |
| series2 | IMF Working Papers: Working Paper No. 15 / 45 |
| spelling | Alvarez, Jorge Verfasser aut Made in Mexico: Energy Reform and Manufacturing Growth Alvarez, Jorge Washington, D.C International Monetary Fund 2015 1 Online-Ressource (30 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers: Working Paper No. 15 / 45 This paper assesses the real effects of the energy reform in Mexico by looking at its impact on manufacturing output through changes in energy prices. Using sub-sector and state-level manufacturing output data, along with past variation in energy prices, we find electricity prices--relative to oil and gas--to be more important in the manufacturing process, with a one standard deviation reduction in electricity prices leading to a 2.8 percent increase in manufacturing output. Our estimated elasticities together with plausible reductions in electricity tariffs derived from the energy reform, could increase manufacturing output by up to 3.6 percent, and overall real GDP by 0.6 percent. Larger reductions are possible over the long run if increased efficiency in the sector leads electricity prices to converge to U.S. levels. Moreover, including the impact of lower electricity tariffs on the services sector, could lead to significantly larger effects on GDP. Accounting for endogeneity of unit labor costs in a panel VAR setting leads to an additional indirect channel which amplifies the impact of electricity prices on output Online-Ausg Valencia, Fabian Sonstige oth http://www.elibrary.imf.org/view/IMF001/22386-9781498376426/22386-9781498376426/22386-9781498376426.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Alvarez, Jorge Made in Mexico: Energy Reform and Manufacturing Growth |
| title | Made in Mexico: Energy Reform and Manufacturing Growth |
| title_auth | Made in Mexico: Energy Reform and Manufacturing Growth |
| title_exact_search | Made in Mexico: Energy Reform and Manufacturing Growth |
| title_exact_search_txtP | Made in Mexico: Energy Reform and Manufacturing Growth |
| title_full | Made in Mexico: Energy Reform and Manufacturing Growth Alvarez, Jorge |
| title_fullStr | Made in Mexico: Energy Reform and Manufacturing Growth Alvarez, Jorge |
| title_full_unstemmed | Made in Mexico: Energy Reform and Manufacturing Growth Alvarez, Jorge |
| title_short | Made in Mexico: Energy Reform and Manufacturing Growth |
| title_sort | made in mexico energy reform and manufacturing growth |
| url | http://www.elibrary.imf.org/view/IMF001/22386-9781498376426/22386-9781498376426/22386-9781498376426.xml |
| work_keys_str_mv | AT alvarezjorge madeinmexicoenergyreformandmanufacturinggrowth AT valenciafabian madeinmexicoenergyreformandmanufacturinggrowth |