Abstract

ORTIZ ZARCO, Ruth  and  PERROTINI HERNANDEZ, Ignacio. Monetary Policy Asymmetry and Convergence between Canada, the US and Mexico. Econ: teor. práct [online]. 2019, n.51, pp.105-133.  Epub Oct 29, 2019. ISSN 2448-7481.  https://doi.org/10.24275/etypuam/ne/512019/ortiz.

This paper examines the monetary evolution of the North American Free Trade Agreement (NAFTA) economies for the period 1980-2015. On the basis of empirical analysis that includes thorough examination of stylized facts regarding monetary variables from Canada, the United States and Mexico, Granger causality tests and vector error corretion models (VEC), we conclude that parallel with the countries’ commercial incorporation, monetarily NAFTA exhibits divergences and convergences, implying asymmetric incorporation of the Mexican economy into the U.S. and to a lesser extent, Canada.

Keywords : Monetary convergence; inflation targeting; Canada; Mexico; United States.

        · abstract in Spanish     · text in Spanish     · Spanish ( pdf )