| Countries | Temporary Shock | Permanent Shock | |||
| Current Account | REER | Current Account | REER | ||
| Argentina | improve | improve | worsen | improve | |
| Bolivia | worsen | improve | improve | worsen | |
| Chile | worsen | improve | worsen | improve | |
| Columbia | improve | improve | worsen | improve | |
| Costa Rica | worsen | improve | worsen | worsen | |
| Jamaica | improve | improve | worsen | improve | |
| Mexico | improve | improve | worsen | improve | |
| Paraguay | worsen | improve | worsen | improve | |
| Peru | improve | improve | worsen | improve | |