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Modeling Exchange-Rate Passthrough After Large Devaluations

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NBER2005-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w11638
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Large devaluations are generally associated with large declines in real exchange rates. We develop a model which embodies two complementary forces that account for the large declines in the real exchange rate that occur in the aftermath of large devaluations. The first force is sticky nontradable

大规模货币贬值通常与实际汇率(real exchange rate)的大幅下降相关联。我们构建了一个模型,该模型包含两种互补性力量,可解释大规模货币贬值后出现的实际汇率大幅下降现象。第一种力量是粘性非贸易品(sticky nontradable)
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2005-09-01
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