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Conditional PPP and Real Exchange Rate Convergence in the Euro Area

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NBER2016-02-01 更新2025-01-04 收录
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While economic theory highlights the usefulness of flexible exchange rates in promoting adjustment in international relative prices, flexible exchange rates also can be a source of destabilizing shocks. We find that when countries joining the euro currency union abandoned their national exchange

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2016-02-01
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