The Macroeconomic Effects of Large Exchange Rate Appreciations
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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In this paper we study the macroeconomic effects of large exchange rate appreciations. In a sample of 128 countries since 1960, we identify 25 episodes of large nominal and real appreciations shocks and study their macroeconomic effects in a dummy-augmented panel autoregressive model. Our results show that an exchange rate appreciation can have...
