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...
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| Hauptverfasser: | , |
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| Körperschaft: | |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
©2015.
|
| Schriftenreihe: | IMF working paper ;
WP/15/45. |
| Schlagworte: | |
| Online-Zugang: | DE-862 DE-863 |
| 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--Abstract. |
| Beschreibung: | "February 2015." "Western Hemisphere Department." |
| Beschreibung: | 1 online resource (30 pages) : color illustrations |
| Bibliographie: | Includes bibliographical references (pages 28-30). |
| ISBN: | 1498333214 9781498342513 1498342515 9781498333214 |
| ISSN: | 2227-8885 ; |
Internformat
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| 245 | 1 | 0 | |a Made in Mexico : |b energy reform and manufacturing growth / |c prepared by Jorge Alvarez and Fabian Valencia. |
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| 500 | |a "February 2015." | ||
| 500 | |a "Western Hemisphere Department." | ||
| 504 | |a Includes bibliographical references (pages 28-30). | ||
| 520 | |a 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--Abstract. | ||
| 588 | 0 | |a Online resource; title from pdf title page (IMF.org Web site, viewed March 2, 2015). | |
| 505 | 0 | |a Cover; Abstract; Contents; I. Introduction; II. The Mexican Manufacturing and Energy Sectors, and The Energy Reform; A. The components of manufacturing growth; B. The role of energy as an input in production and the structure of the energy sector; C. The Mexican energy reform and energy prices; III. Energy Prices and Manufacturing Output; A. Data description; B. Estimation of energy price elasticities; C. Quantitative importance; IV. Energy Prices in a Panel VAR Framework; V. Conclusion; References. | |
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| adam_text | |
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| author | Alvarez, Jorge Valencia, Fabian |
| author_GND | http://id.loc.gov/authorities/names/no2009043336 |
| author_corporate | International Monetary Fund. Western Hemisphere Department |
| author_corporate_role | |
| author_facet | Alvarez, Jorge Valencia, Fabian International Monetary Fund. Western Hemisphere Department |
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| collection | ZDB-4-EBA |
| contents | Cover; Abstract; Contents; I. Introduction; II. The Mexican Manufacturing and Energy Sectors, and The Energy Reform; A. The components of manufacturing growth; B. The role of energy as an input in production and the structure of the energy sector; C. The Mexican energy reform and energy prices; III. Energy Prices and Manufacturing Output; A. Data description; B. Estimation of energy price elasticities; C. Quantitative importance; IV. Energy Prices in a Panel VAR Framework; V. Conclusion; References. |
| ctrlnum | (OCoLC)904254781 |
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| indexdate | 2025-04-11T08:42:29Z |
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| institution_GND | http://id.loc.gov/authorities/names/n82237138 |
| isbn | 1498333214 9781498342513 1498342515 9781498333214 |
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| series2 | IMF working paper, |
| spelling | Alvarez, Jorge, author. Made in Mexico : energy reform and manufacturing growth / prepared by Jorge Alvarez and Fabian Valencia. [Washington, D.C.] : International Monetary Fund, ©2015. 1 online resource (30 pages) : color illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF working paper, 2227-8885 ; WP/15/45 "February 2015." "Western Hemisphere Department." Includes bibliographical references (pages 28-30). 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--Abstract. Online resource; title from pdf title page (IMF.org Web site, viewed March 2, 2015). Cover; Abstract; Contents; I. Introduction; II. The Mexican Manufacturing and Energy Sectors, and The Energy Reform; A. The components of manufacturing growth; B. The role of energy as an input in production and the structure of the energy sector; C. The Mexican energy reform and energy prices; III. Energy Prices and Manufacturing Output; A. Data description; B. Estimation of energy price elasticities; C. Quantitative importance; IV. Energy Prices in a Panel VAR Framework; V. Conclusion; References. Energy policy Mexico. Power resources Prices Mexico. Industrial capacity Mexico. Manufacturing industries Mexico. Politique énergétique Mexique. Ressources énergétiques Prix Mexique. Capacité de production Mexique. Industrie manufacturière Mexique. Energy policy fast Industrial capacity fast Manufacturing industries fast Power resources Prices fast Mexico fast https://id.oclc.org/worldcat/entity/E39QbtfRkxCrqQ3XXbCkdP63kc Valencia, Fabian, author. https://id.oclc.org/worldcat/entity/E39PCjKcqXwhJqFccXyVMPpRXd http://id.loc.gov/authorities/names/no2009043336 International Monetary Fund. Western Hemisphere Department. https://id.oclc.org/worldcat/entity/E39QQPVp7TcCVCKM8HWwX9CkvR http://id.loc.gov/authorities/names/n82237138 has work: Made in Mexico (Text) https://id.oclc.org/worldcat/entity/E39PCGQcRY9F3wMmJcWkCgd683 https://id.oclc.org/worldcat/ontology/hasWork Print version:Print Version: 9781498333214 IMF working paper ; WP/15/45. http://id.loc.gov/authorities/names/no89010263 |
| spellingShingle | Alvarez, Jorge Valencia, Fabian Made in Mexico : energy reform and manufacturing growth / IMF working paper ; Cover; Abstract; Contents; I. Introduction; II. The Mexican Manufacturing and Energy Sectors, and The Energy Reform; A. The components of manufacturing growth; B. The role of energy as an input in production and the structure of the energy sector; C. The Mexican energy reform and energy prices; III. Energy Prices and Manufacturing Output; A. Data description; B. Estimation of energy price elasticities; C. Quantitative importance; IV. Energy Prices in a Panel VAR Framework; V. Conclusion; References. Energy policy Mexico. Power resources Prices Mexico. Industrial capacity Mexico. Manufacturing industries Mexico. Politique énergétique Mexique. Ressources énergétiques Prix Mexique. Capacité de production Mexique. Industrie manufacturière Mexique. Energy policy fast Industrial capacity fast Manufacturing industries fast Power resources Prices fast |
| 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_full | Made in Mexico : energy reform and manufacturing growth / prepared by Jorge Alvarez and Fabian Valencia. |
| title_fullStr | Made in Mexico : energy reform and manufacturing growth / prepared by Jorge Alvarez and Fabian Valencia. |
| title_full_unstemmed | Made in Mexico : energy reform and manufacturing growth / prepared by Jorge Alvarez and Fabian Valencia. |
| title_short | Made in Mexico : |
| title_sort | made in mexico energy reform and manufacturing growth |
| title_sub | energy reform and manufacturing growth / |
| topic | Energy policy Mexico. Power resources Prices Mexico. Industrial capacity Mexico. Manufacturing industries Mexico. Politique énergétique Mexique. Ressources énergétiques Prix Mexique. Capacité de production Mexique. Industrie manufacturière Mexique. Energy policy fast Industrial capacity fast Manufacturing industries fast Power resources Prices fast |
| topic_facet | Energy policy Mexico. Power resources Prices Mexico. Industrial capacity Mexico. Manufacturing industries Mexico. Politique énergétique Mexique. Ressources énergétiques Prix Mexique. Capacité de production Mexique. Industrie manufacturière Mexique. Energy policy Industrial capacity Manufacturing industries Power resources Prices Mexico |
| work_keys_str_mv | AT alvarezjorge madeinmexicoenergyreformandmanufacturinggrowth AT valenciafabian madeinmexicoenergyreformandmanufacturinggrowth AT internationalmonetaryfundwesternhemispheredepartment madeinmexicoenergyreformandmanufacturinggrowth |