Is Bad News About Inflation Good News for the Exchange Rate?
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We show in a simplebut robusttheoretical monetary exchange rate model that the sign of the covariance between an inflation surprise and the nominal exchange rate can tell us something about how monetary policy is conducted. Specifically, we show that 'bad news' about inflationthat it is higher than
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美国国家经济研究局创建时间：
2007-04-01
