Belke, Ansgar; Goecke, Matthias; Guenther, Martin - Rheinisch-Westfälisches Institut für … - 2009
strong spurts of exports occur when changes of the EXR go beyond a kind of "play area (analogous to a mechanical play). We … implement an algorithm describing play-hysteresis into a regression framework. A unique "pain threshold" of the $/Euro exchange … rate does not exist, since the borders of the play area and, thus, also the "pain threshold" (as the upper border) depend …