The Real Exchange Rate, Mercantilism and the Learning by Doing Externality
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This paper examines the degree to which the learning by doing externality [LBD] calls for an undervalued exchange rate, a policy suggested by recent empirical studies which concluded that mildly undervalued real exchange rate may enhance growth. We obtain mixed results. For an economy where LBD
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美国国家经济研究局创建时间：
2008-03-01
