The transmission of monetary and fiscal policies in an international context is one of the most prominent topics in the realm of international finance. In particular, researchers are interested in the effects of the respective policy on exchange rate movements, international price level...

A “neighbour” separated by 6,000 km of Pacific, Mexico is by far New Zealand’s largest trading partner in Latin America and its 15th largest overall. With two-way trade worth NZ$584 million in 2002, many Mexicans grow up on New Zealand milk powder and baby formula. Not only is Mexico’s...

This thesis examined the extent to which there is convergence in inflation rates,interest rates and incomes in the Common Monetary Area (CMA). It alsoinvestigated if countries in the area exhibit asymmetric adjustments to aggregateshocks. Based on optimum currency area theory, lack of...

Este artículo describe una metodología que permite contrastar la convergencia absoluta y relativa del nivel general de precios (en media y varianza), basada en un modelo de precios relativos que incluye un proceso de transición y permite medir la velocidad de convergencia de precios entre un...

This paper studies the implications of cross-country housing market heterogeneity for a monetary union, also comparing the results with a flexible exchange rate and independent monetary policy setting. I develop a two-country new Keynesian general equilibrium model with housing and collateral...