Private Consumption, Nontraded Goods and Real Exchange Rate: A Cointegration_Euler Equation Approach
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This paper presents an empirical study of real exchange rate movements from a consumer's perspective. Trade between two countries creates a link between real exchange rate and terms of trade. It is the private consumption of non-traded goods that induces an equilibrium relationship between real
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美国国家经济研究局创建时间：
1996-08-01
