Amstad, Marlene; di Mauro, Beatrice Weder - In: Aussenwirtschaft 68 (2017) 1, pp. 63-82
In the short to medium run, open economy textbook models predict that a real exchange rate appreciation shock negatively impacts macroeconomic performance. Over the long run, exchange rate appreciation and economic growth are predicted to be positively associated due to Balassa-Samuelson...