| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1254 |
| DP1254 The Classical Approach to Convergence Analysis | |
| Xavier Sala-i-Martin | |
| 发表日期 | 1995-10-31 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | We analyse the events leading to the devaluation of the Mexican peso last year, using a simple two-period model. We view the problem as a race between a foreign investment led demand boom and the potential expansion in supply which might follow; the outcome of such a race is inherently uncertain. If, in an exchange rate based stabilization programme, supply does not keep pace with demand, competitiveness problems will eventually result in lower output, and consequently the government might be tempted to devalue. In Mexico it would also appear that the costs and benefits of maintaining the regime were adversely affected by a reduction in the amount of external financing available. |
| 主题 | International Macroeconomics |
| 关键词 | Capital inflow Exchange rate crisis Macroeconomic stabilization Mexico |
| URL | https://cepr.org/publications/dp1254 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530396 |
| 推荐引用方式 GB/T 7714 | Xavier Sala-i-Martin. DP1254 The Classical Approach to Convergence Analysis. 1995. |
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