Deciphering the Macroeconomic Effects of Internal Devaluations in a Monetary Union
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https://www.nber.org/papers/w27347
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资源简介：
We study the macroeconomic effects of internal devaluations undertaken by a periphery of countries belonging to a monetary union. We find that internal devaluations have large and positive output effects in the long run. Through an expectations channel, most of these effects carry over to the short
提供机构：
美国国家经济研究局
创建时间：
2020-06-01
