Data for Figure 2 that appears in the July/August 1996 REVIEW article

by Christopher J. Neely, "The Giant Sucking Sound:  Did NAFTA Devour

the Mexican Peso?" Pages 33-47.





MEXEXCH = Unit Labor Costs Multilateral Real Exchange Rate

          Based on Manufacturing Unitary Labor Costs in 8 countries



Source:  Gil-Diaz and Carstens(1995)





    DATE  MEXEXCH



    1975    88.24

    1976    88.14

    1977   109.58

    1978   104.33

    1979    96.02

    1980    78.57

    1981    62.76

    1982    94.24

    1983   153.25

    1984    150.2

    1985   148.27

    1986   227.39

    1987   245.86

    1988   202.19

    1989   174.49

    1990   167.69

    1991   154.82

    1992   142.76

    1993   143.21

  1994:1   143.72

  1994:2   155.04

  1994:3   158.05

  1994:4   162.63

  1995:1   266.21

  1995:2   257.69