Cavallo, Michele; Kisselev, Kate; Perri, Fabrizio; … - 2005
negative
wealth effect. The model highlights a key tradeoff when considering fixed versus flexible exchange
rate regimes; a … and
Velasco, 2004, and Gertler, Gilchrist and Natalucci, 2003). These studies find that flexible exchange
rate regimes … response to the same export shock for a fixed (solid line) and for a flexible
exchange rate (dashed line) economy is considered …