Fratzscher, Marcel (contributor); … - 2008
exchange
rate movements may not necessarily be a key element of an adjustment of today�s large
current account imbalances, and … share of the US in world output (Engel and Rogers, 2006), and a reduction in income
volatility and uncertainty (Fogli and …
and booms in asset prices.2 A key feature, and one that is central to the analysis of the paper,
1Related studies point at …