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Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample period. Although the traditional Balassa-Samuelson...
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of the politics and political-economy considerations that led to the specific content of each fiscal program will have to …
Persistent link: https://www.econbiz.de/10012628797
international reserves (IR). We confirm that the determinants of IR hoarding evolve with developments in the global economy. During …. Developed countries display different demand behaviors for IRs. Our predictive exercise affirms that an emerging market economy …
Persistent link: https://www.econbiz.de/10010490278