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Does Exchange Rate Risk Matter for Welfare?

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NBER2003-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w9900
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Volatility in exchange rates is a prominent feature of open economies, a fact which has motivated elaborate attempts in many countries at exchange rate management. This paper analyzes quantitatively the welfare effects of exchange rate risk in a general two-country environment. It finds that the
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2003-08-01
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