FARRANT, K.; PEERSMAN, G. - Faculteit Economie en Bedrijfskunde, Universiteit Gent - 2005
This paper analyses the role of the real exchange rate in a structural vector autoregression (sVAR) framework for the United Kingdom, Euro area, Japan and Canada vis-á-vis the United States. A new identification strategy is proposed building on sign restrictions. The results are compared to the...