Exchange-rate anchors, credibility, and inertia; a tale of two crises, Chile and Mexico

Article Abstract:

The Mexican currency crisis is compared to Chile's currency problem during the 70s using a model that comparatively analyzes the effectiveness of the countries' exchange rate stabilization policies in decreasing inflationary inertia. Regression estimates and autocorrelation coefficients show an immediate drop in the inertia after the stabilization program. However, the same variable steadily increased following its drop.

Administration of General Economic Programs, Currency Stabilization Programs, Models, Prices and rates, Inflation (Finance), Monetary policy, Currency stabilization, Peso (Mexico), Inflation (Economics), Peso (Chile)

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Trade policy, growth, and income distribution

Article Abstract:

A new comparative data set is used to examine the link between income distribution and trade policy. There is no proof of a relationship between free trade and inequality of income in developing countries. The findings seem to be strong to the income-distribution and substitute trade policy indexes used. However, the analysis is also characterized by problems in cross-country studies and by measurement problems.

Research, Developing countries, Trade policy, Income distribution, Commercial policy

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Financial openness, sudden stops, and current-account reversals

Article Abstract:

The sudden stops of capital inflows and its impact on current-account reversals and economic performance of countries are discussed. The relation between financial openness and current account reversals is studied.

United States, Balance of Payments, Management dynamics, Analysis, Management, Company business management, Capital movements, Countries

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