International transmission of U.S. macroeconomic shocks in the USMCA region*
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| Format: | Artículo científico |
| Langue: | en |
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Universidad Autónoma Metropolitana
2024
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| _version_ | 1876429362928025600 |
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| author | Javier Emmanuel Anguiano Pita |
| author_facet | Javier Emmanuel Anguiano Pita |
| contents | International transmission of U.S. macroeconomic shocks in the USMCA region* Javier Emmanuel Anguiano Pita Antonio Ruiz Porras Economía y Finanzas USMCA GIRFs GVAR Model Macroeconomic shocks International transmission We study the international transmission of U.S. real and financial shocks on the USMCA region using a global approach. The study relies on a GVAR (Global Vector Autoregressive) model and generalized impulse-response functions (GIRF). The main findings suggest that: 1) The USMCA economies are contemporaneously linked to the world economy mainly through private credit, international trade and real GDP; 2) shocks on U.S. GDP and U.S. trade flows have higher influence in Canada than in Mexico; 3) shocks on U.S. interest rates have higher influence in Mexico than in Canada; 4) the private credit and the international trade channels are the most important ones for the transmission of international macroeconomic shocks. The study relies on quarterly data for 33 countries of the period 1986:Q1-2019:Q4. 2024 artículo científico 0185-3937 https://www.redalyc.org/articulo.oa?id=41377471002 https://www.redalyc.org/journal/413/41377471002/ https://www.redalyc.org/journal/413/41377471002/html/ https://www.redalyc.org/journal/413/41377471002/41377471002.epub https://www.redalyc.org/journal/413/41377471002/movil https://doi.org/10.24275/uam/azc/dcsh/ae/2024v39n100/Anguiano en http://www.redalyc.org/revista.oa?id=413 Análisis Económico application/pdf Universidad Autónoma Metropolitana Análisis Económico (México) Num.100 Vol.XXXIX |
| format | Artículo científico |
| id | redalyc_41377471002 |
| institution | Redalyc |
| language | en |
| publishDate | 2024 |
| publisher | Universidad Autónoma Metropolitana |
| spellingShingle | International transmission of U.S. macroeconomic shocks in the USMCA region* Javier Emmanuel Anguiano Pita Economía y Finanzas USMCA GIRFs GVAR Model Macroeconomic shocks International transmission International transmission of U.S. macroeconomic shocks in the USMCA region* Javier Emmanuel Anguiano Pita Antonio Ruiz Porras Economía y Finanzas USMCA GIRFs GVAR Model Macroeconomic shocks International transmission We study the international transmission of U.S. real and financial shocks on the USMCA region using a global approach. The study relies on a GVAR (Global Vector Autoregressive) model and generalized impulse-response functions (GIRF). The main findings suggest that: 1) The USMCA economies are contemporaneously linked to the world economy mainly through private credit, international trade and real GDP; 2) shocks on U.S. GDP and U.S. trade flows have higher influence in Canada than in Mexico; 3) shocks on U.S. interest rates have higher influence in Mexico than in Canada; 4) the private credit and the international trade channels are the most important ones for the transmission of international macroeconomic shocks. The study relies on quarterly data for 33 countries of the period 1986:Q1-2019:Q4. 2024 artículo científico 0185-3937 https://www.redalyc.org/articulo.oa?id=41377471002 https://www.redalyc.org/journal/413/41377471002/ https://www.redalyc.org/journal/413/41377471002/html/ https://www.redalyc.org/journal/413/41377471002/41377471002.epub https://www.redalyc.org/journal/413/41377471002/movil https://doi.org/10.24275/uam/azc/dcsh/ae/2024v39n100/Anguiano en http://www.redalyc.org/revista.oa?id=413 Análisis Económico application/pdf Universidad Autónoma Metropolitana Análisis Económico (México) Num.100 Vol.XXXIX |
| title | International transmission of U.S. macroeconomic shocks in the USMCA region* |
| topic | Economía y Finanzas USMCA GIRFs GVAR Model Macroeconomic shocks International transmission |
| url | https://www.redalyc.org/articulo.oa?id=41377471002 https://www.redalyc.org/journal/413/41377471002/ https://www.redalyc.org/journal/413/41377471002/html/ https://www.redalyc.org/journal/413/41377471002/41377471002.epub https://www.redalyc.org/journal/413/41377471002/movil https://doi.org/10.24275/uam/azc/dcsh/ae/2024v39n100/Anguiano |