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Interdependencia y regímenes cambiarios en Mercosur: un modelo macroeconómico de equilibrio general computado para su medición

Interdependence under different exchange rate regimes in the Mercosur. A macroeconomic computable general equilibrium model

Jorge Carrera (), Martín Cicowiez (), Hernán Lacunza and Marcelo Saavedra

MPRA Paper from University Library of Munich, Germany

Abstract: Mercosur is currently going through an intermediate integration stage in which macroeconomic interdependence acquires more importance. Then, the need arises to adopt strategic definitions with regard to the future of the process itself. The study examines macroeconomic interdependence with a macroeconomic computable general equilibrium model. This enables an estimation of the sign and extent of transmission of shocks originating either in a Mercosur country or in the rest of the world. The results of the model simulations show that interdependence has important effects. We discuss the possibility of implementing a process of cooperation as an alternative to play Nash in some key policies.

Keywords: exchange rate regimes; Mercosur; CGE models; shocks simulations; policy coordination; channel of transmission (search for similar items in EconPapers)
JEL-codes: F42 F15 C68 F17 F47 E61 F33 (search for similar items in EconPapers)
Date: 2005-12, Revised 2005
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