Are the Mexican States and the United States Business Cycles Synchronized?. Evidence from the Manufacturing Production

Pablo Mejía-Reyes; Jeanett Campos-Chávez

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dc.creator	Pablo Mejía-Reyes
dc.creator	Jeanett Campos-Chávez
dc.date	2011
dc.date.accessioned	2022-03-22T16:07:44Z
dc.date.available	2022-03-22T16:07:44Z
dc.identifier	http://www.redalyc.org/articulo.oa?id=32319280003
dc.identifier.uri	http://biblioteca-repositorio.clacso.edu.ar/handle/CLACSO/82887
dc.description	This paper analyses the degree of synchronization between the Mexican states and the US business cycles by using a growth cycle approach for the period 1997-2007. The business cycle indicators are obtained from seasonally-adjusted monthly manufacturing production. Our results confirm that the Mexican aggregate cycle is highly synchronized with the US business cycle. However, although specific Mexican state cycles are pro-cyclical with respect to the US business cycle, their synchronization is very heterogeneous. In particular, it is strong and robust only for the states of Baja California, Jalisco, Nuevo León and the Federal District, and at least moderate for the state of Mexico and Querétaro. The results are robust with respect to three different detrending methods. Synchronization may be explained by the high volumes of international trade carried out by foreign firms in the case of the central and traditionally industrialized states, and by the "maquila" production in the Northern bordering states. This synchronization may be explained by the vertical integration of the productive processes resulting from the internationalization of production of multinational firms.
dc.format	application/pdf
dc.language	en
dc.publisher	Centro de Investigación y Docencia Económicas, A.C.
dc.relation	http://www.redalyc.org/revista.oa?id=323
dc.rights	Economía Mexicana. Nueva Época
dc.source	Economía Mexicana. Nueva Época (México) Num.1 Vol.XX
dc.subject	Economía y Finanzas
dc.subject	Growth cycles
dc.subject	international synchronization
dc.subject	sub-national business cycles
dc.subject	Mexican states
dc.title	Are the Mexican States and the United States Business Cycles Synchronized?. Evidence from the Manufacturing Production
dc.type	artículo científico