Arbeitspapier
An analysis of the process of disinflationary structural change: The case of Mexico
I study the diffusion process of permanent disinflationary shocks in the Mexican economy using disaggregated price data for 283 goods across 46 cities in the period 1995-2012. I first show that the distribution of shocks shows considerable heterogeneity, with more than 80% of all cases having experienced a break. I then show that both the likelihood and timing are spatially correlated across cities, and find a positive and concave relationship between CPI weights and the likelihood and timing of a break. These findings suggest that the process of structural change follows a diffusion process across the spatial and goods dimensions.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Papers ; No. 2013-12
- Klassifikation
-
Wirtschaft
Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
Price Level; Inflation; Deflation
Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Latin America; Caribbean
Economic History: Financial Markets and Institutions: Latin America; Caribbean
Economywide Country Studies: Latin America; Caribbean
Single Equation Models; Single Variables: Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
Single Equation Models; Single Variables: Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
- Thema
-
structural change
inflation
spatial econometrics
trend-stationary
emerging economy
Mexico
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Vaughan, Daniel
- Ereignis
-
Veröffentlichung
- (wer)
-
Banco de México
- (wo)
-
Ciudad de México
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
- 10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft.
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Objekttyp
- Arbeitspapier
Beteiligte
- Vaughan, Daniel
- Banco de México
Entstanden
- 2013
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