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Fig. 3 | Latin American Economic Review

Fig. 3

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

Fig. 3

(Source Author’s calculations)

Dynamic multipliers. The series show the path, or dynamic adjustment, of private investment after a permanent one-unit RER depreciation (RERD) or appreciation (RERA), with all the variables measured in natural logs. The paths are based on the dynamic multipliers defined in Eq. (4) in the text and the estimated coefficients in the following equations from Tables 3, 4, and 5: m1, (3.4); m2, (4.2); m3, (5.2) in panel (a); and m4, (3.2); m5, (4.1); m6, (5.1) in panel (b)

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