The Macroeconomic Effects of Large Exchange Rate Appreciations

In this paper we study the macroeconomic aftermath of large exchange rate appreciations. Using a sample of 128 countries over the period 1960–2008, we identify 25 episodes of large nominal and real appreciations shocks. We use narrative identification of exogenous appreciation episodes and study the macroeconomic effects in a dummy-augmented panel autoregressive model.

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Year of publication:	2013
Authors:	Kappler, Marcus ; Reisen, Helmut ; Schularick, Moritz ; Turkisch, Edouard
Published in:	Open Economies Review. - Heidelberg : Springer. - Vol. 24.2013, 3, p. 471-494
Publisher:	Heidelberg : Springer
Subject:	Leistungsbilanz \| Internationales Finanzsystem \| Current account adjustment \| Global imbalances

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.1007/s11079-012-9246-4 [DOI] 843946784 [GVK] hdl:10419/122944 [Handle] RePEc:zbw:espost:122944 [RePEc]
Classification:	F4 - Macroeconomic Aspects of International Trade and Finance ; F31 - Foreign Exchange
Source:	EconStor

Persistent link: https://www.econbiz.de/10011386283