Thoenissen, Christoph - Centre for Dynamic Macroeconomic Analysis, University … - 2006
distribution costs to two-country two-sector models has been shown to increase the volatility of the terms of trade and thus the … models with
non-traded distribution costs have been shown yield realistic levels of terms of
trade and real exchange rate ….
Keywords: Real exchange rate volatility, financial market structure, non-traded
goods, distribution costs.
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