Interest Rates and the Exchange Rate: A Non-Monotonic Tale
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What is the relationship between interest rates and the exchange rate? The empirical literature in this area has been inconclusive. We use an optimizing model of a small open economy to rationalize the mixed empirical findings. The model has three key margins. First, higher domestic interest rates
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美国国家经济研究局创建时间：
2008-04-01
