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New items about your countries of interest:

* Working Paper No. 08/105: Housing Finance and Mortgage-Backed Securities in Mexico

Author/Editor: Zanforlin, L.; Espinosa-Vega, Marco

Summary: This paper reviews the Mexican experience with the securitization of residential mortgages. It highlights the key legislative and institutional reforms leading to the development of primary and secondary mortgage markets and reports the main features and valuation practices of the RMBS markets. The paper identifies areas warranting close attention to improve the outlook for the Mexican RMBS market and draws some lessons from the recent U.S. subprime mortgage market problems.
http://www.imf.org/external/pubs/cat/longres.cfm?sk=21890.0
[Matched: United States]

* Working Paper No. 08/100: External Shocks and Business Cycle Fluctuations in Mexico: How Important are U.S. Factors?

Author/Editor: Sosa, Sebastian

Summary: This paper examines the relative importance of external shocks as sources of business cycle fluctuations in Mexico, and identifies the dynamic responses of domestic output to foreign disturbances. Using a VAR model with block exogeneity restrictions, it finds that U.S. shocks explain a large share of Mexico's macroeconomic fluctuations after NAFTA. This partly reflects greater trade integration-but also Mexico's "Great Moderation," as the country escaped its former pattern of macro-financial crises. In this period, Mexico's output fluctuations have been closely synchronized with the U.S. cycle, with a large and rapid impact of U.S. shocks on Mexican growth.
http://www.imf.org/external/pubs/cat/longres.cfm?sk=21892.0
[Matched: United States]



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