The Influence of "big brothers" : how important are regional factors for Uruguay? /
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Author / Creator: | Sosa, Sebastian, author. |
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Imprint: | [Washington, D.C.] : International Monetary Fund, ©2010. |
Description: | 1 online resource (26 pages) : color illustrations |
Language: | English |
Series: | IMF working paper, 2227-8885 ; WP/10/60 IMF working paper ; WP/10/60. |
Subject: | |
Format: | E-Resource Book |
URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12498307 |
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100 | 1 | |a Sosa, Sebastian, |e author. | |
245 | 1 | 4 | |a The Influence of "big brothers" : |b how important are regional factors for Uruguay? / |c prepared by Sebastián Sosa. |
260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2010. | ||
300 | |a 1 online resource (26 pages) : |b color illustrations | ||
336 | |a text |b txt |2 rdacontent | ||
337 | |a computer |b c |2 rdamedia | ||
338 | |a online resource |b cr |2 rdacarrier | ||
490 | 1 | |a IMF working paper, |x 2227-8885 ; |v WP/10/60 | |
504 | |a Includes bibliographical references (page 26). | ||
520 | 3 | |a This paper examines the role played by regional factors in Uruguay, identifies the sources and transmission mechanisms of shocks stemming from the region, and assesses how vulnerable Uruguay is to a potential crisis in the region. Using a VAR model with block exogeneity restrictions, it finds that shocks from Argentina--which account for about 20 percent of Uruguayan output fluctuations--have large and rapid effects. This is mainly due to the existence of idiosyncratic real and financial linkages between Uruguay and Argentina, which also explain the very high correlation between their business cycles. The analysis of previous crises in the region suggests that despite the importance of these strong linkages, and despite the fact the two deepest crises in recent Uruguayan history followed crises in Argentina, Uruguay is now clearly less vulnerable to financial contagion from the region. | |
588 | 0 | |a Print version record. | |
505 | 0 | |a Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Literature Review; III. Regional Linkages: The Influence of "Big Brothers"; A. Regional Business Cycle Comovements; B. Idiosyncratic Linkages Between Uruguay and Argentina; IV. How Important are Regional Factors? An Econometric Approach; A. The Empirical Approach; B. Estimation Results; V. How Vulnerable is Uruguay to a Crisis in the Region? A Case Study Approach; A. Crisis Episodes in the Region: A Closer Look; B. How Vulnerable is Uruguay Today to Disruptions in the Region?; VI. Final Remarks; Appendix; References. | |
650 | 0 | |a Business cycles |z Uruguay. | |
650 | 0 | |a Financial crises |z Uruguay. | |
650 | 6 | |a Cycles économiques |z Uruguay. | |
650 | 7 | |a Business cycles. |2 fast |0 (OCoLC)fst00842457 | |
650 | 7 | |a Financial crises. |2 fast |0 (OCoLC)fst00924607 | |
651 | 7 | |a Uruguay. |2 fast |0 (OCoLC)fst01202667 | |
655 | 0 | |a Electronic books. | |
655 | 4 | |a Electronic books. | |
710 | 2 | |a International Monetary Fund. |b Western Hemisphere Department, |e issuing body. | |
776 | 0 | 8 | |i Print version: |a Sosa, Sebastian. |t Influence of "Big Brothers:" How Important are Regional Factors for Uruguay? |d Washington : International Monetary Fund, ©2010 |z 9781451963847 |
830 | 0 | |a IMF working paper ; |v WP/10/60. | |
856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2010/060/001.2010.issue-060-en.xml |y INTERNATIONAL MONETARY FUND |
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928 | |t Library of Congress classification |a HG3810 |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2010/060/001.2010.issue-060-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12142380 |