Bouakez, Hafedh; Normandin, Michel - Centre Interuniversitaire sur le Risque, les Politiques … - 2008
countries. We also estimate deviations from uncovered interest rate parity and exchange rate pass-through conditional on these … interest rate parity, and to a prolonged period of incomplete pass-through. Variance-decomposition results indicate that … roughly ten months before starting to appreciate. The shock also leads to large and persistent departures from uncovered …