Belke, Ansgar; Göcke, Matthias; Guenther, Martin - 2009
This paper deals with the impact of the $/€ exchange rate on German exports in the period from 1995Q1 to 2008Q4. Our … euro. At the end of our estimation period, the previous exchange rate movements had shifted the upper bound of the play … implement an algorithm describing play-hysteresis into a regression framework. A unique 'pain threshold' of the $/€ exchange …