Fukui, Masao; Nakamura, Emi; Jón Steinsson - National Bureau of Economic Research - 2023
floaters to the US dollar in response to a dollar depreciation. Pegger currencies depreciate relative to floater currencies and … originating in the financial sector drive exchange rates and households and firms can borrow in foreign currencies. Following a … consistent with (unconditional) exchange rate disconnect and the Mussa facts, even though exchange rates have large effects on …