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Latin American Economic Review
Fig. 1 | Latin American Economic Review

Fig. 1

From: Asymmetric real-exchange-rate effects on capital accumulation: evidence from non-linear ARDL models for Mexico

Fig. 1

(Source Author’s calculations with data from Bank of Mexico)

Real exchange rate and its components, 1980Q1–2016Q4. RER is the Bank of Mexico’s effective index, based on consumer price indices for 111 countries, where an increase means a real peso depreciation. RERD and RERA are partial sum processes of positive (depreciation) and negative (appreciation) RER changes. The series are expressed in natural logs times 100

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