2005
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Frontera Norte
Thomas M. Fullerton Jr. et al., « Milkshake Prices, International Reserves, and the Mexican Peso », Frontera Norte, ID : 10670/1.b9jm6g
"Menu prices from 13 international restaurant franchises that operate in both El Paso andCiudad Juárez are utilized to examine the behavior over time of the peso/dollar exchangerate. Parametric and nonparametric tests indicate that the price ratio alone provides a biasedestimator for the exchange rate. In addition to the multiproduct price ratio, the empiricalanalysis also incorporates interest rate parity and balance of payments variables. Thecombination of unique microeconomic sample data with national macroeconomic variablesillustrates one manner in which border economies provide information regardingthe interplay of financial markets between Mexico and the United States."