F4 - Macroeconomic Aspects of International Trade and Finance
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Nominal Rigidity, Desired Markup Variations, and Real Exchange Rate Persistence
This paper develops and estimates a dynamic general-equilibrium sticky-price model that accounts for real exchange rate persistence. -
Does Exchange Rate Policy Matter for Growth?
Previous studies on whether the nature of the exchange rate regime influences a country's medium-term growth performance have been based on a tripartite classification scheme that distinguishes between pegged, intermediate, and flexible exchange rate regimes. -
Currency Fluctuations, Liability Dollarization, and the Choice of Exchange Rate Regimes in Emerging Markets
Traditional models of exchange rate regimes ignore the destabilizing effects of sharp and unanticipated exchange rate movements.