International transmission of U.S. macroeconomic shocks in the USMCA region*

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 contemp...

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Autores: Javier Emmanuel Anguiano Pita, Antonio Ruiz Porras
Tipo de recurso: artículo
Estado:Versión publicada
Fecha de publicación:2024
País:México
Institución:Universidad de Guadalajara
Repositorio:Redalyc-UDG
OAI Identifier:oai:redalyc.org:41377471002
Acceso en línea: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
Access Level:acceso abierto
Palabra clave:Economía y Finanzas
USMCA
GIRFs
GVAR Model
Macroeconomic shocks
International transmission
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spelling International transmission of U.S. macroeconomic shocks in the USMCA region*Javier Emmanuel Anguiano PitaAntonio Ruiz PorrasEconomía y FinanzasUSMCAGIRFsGVAR ModelMacroeconomic shocksInternational transmissionWe 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.Universidad Autónoma Metropolitana2024info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdf0185-3937https://www.redalyc.org/articulo.oa?id=41377471002https://www.redalyc.org/journal/413/41377471002/https://www.redalyc.org/journal/413/41377471002/html/https://www.redalyc.org/journal/413/41377471002/41377471002.epubhttps://www.redalyc.org/journal/413/41377471002/movilhttps://doi.org/10.24275/uam/azc/dcsh/ae/2024v39n100/AnguianoAnálisis Económico (México) Num.100 Vol.XXXIXreponame:Redalyc-UDGinstname:Universidad de Guadalajarainstacron:UDGenhttp://www.redalyc.org/revista.oa?id=413Análisis Económicoinfo:eu-repo/semantics/openAccessoai:redalyc.org:413774710022026-01-29T04:44:28Z
dc.title.none.fl_str_mv International transmission of U.S. macroeconomic shocks in the USMCA region*
title International transmission of U.S. macroeconomic shocks in the USMCA region*
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
title_short International transmission of U.S. macroeconomic shocks in the USMCA region*
title_full International transmission of U.S. macroeconomic shocks in the USMCA region*
title_fullStr International transmission of U.S. macroeconomic shocks in the USMCA region*
title_full_unstemmed International transmission of U.S. macroeconomic shocks in the USMCA region*
title_sort International transmission of U.S. macroeconomic shocks in the USMCA region*
dc.creator.none.fl_str_mv Javier Emmanuel Anguiano Pita
Antonio Ruiz Porras
author Javier Emmanuel Anguiano Pita
author_facet Javier Emmanuel Anguiano Pita
Antonio Ruiz Porras
author_role author
author2 Antonio Ruiz Porras
author2_role author
dc.subject.none.fl_str_mv Economía y Finanzas
USMCA
GIRFs
GVAR Model
Macroeconomic shocks
International transmission
topic Economía y Finanzas
USMCA
GIRFs
GVAR Model
Macroeconomic shocks
International transmission
description 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.
publishDate 2024
dc.date.none.fl_str_mv 2024
dc.type.none.fl_str_mv info:eu-repo/semantics/publishedVersion
info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv 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
identifier_str_mv 0185-3937
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
dc.language.none.fl_str_mv en
language_invalid_str_mv en
dc.relation.none.fl_str_mv http://www.redalyc.org/revista.oa?id=413
dc.rights.none.fl_str_mv Análisis Económico
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Análisis Económico
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidad Autónoma Metropolitana
publisher.none.fl_str_mv Universidad Autónoma Metropolitana
dc.source.none.fl_str_mv Análisis Económico (México) Num.100 Vol.XXXIX
reponame:Redalyc-UDG
instname:Universidad de Guadalajara
instacron:UDG
instname_str Universidad de Guadalajara
instacron_str UDG
institution UDG
reponame_str Redalyc-UDG
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