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development. Evidence from the failed Industrial Revolution in 14th-century China illustrates the empirical relevance of the …
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two currencies differ according to the magnitude of the 'inflation tax' risk associated with each currency. The inflation …
Persistent link: https://www.econbiz.de/10005776281
We examine the impact of US monetary policy shocks on exchange rates using the monetary policy indicator proposed by Bernanke and Mihov [Quarterly Journal of Economics, 113 (1998) 869–902]. We find evidence for instantaneous, rather than delayed, US dollar overshooting after a monetary shock...
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I am grateful for the assistance of Kaleon Leong and Chong Wui Jean in the preparation of this paper. The paper draws on the work of the ASEAN Integration plan and other related papers for which the author gratefully acknowledges. The views expressed in the paper do not necessarily reflect the...
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