Aizenman, Joshua; Edwards, Sebastian; Riera-Crichton, Daniel - In: Journal of International Money and Finance 31 (2012) 8, pp. 1990-2016
We analyze the way in which Latin American countries have adjusted to commodity terms of trade (CTOT) shocks in the 1970–2007 period. Specifically, we investigate the degree to which the active management of international reserves and exchange rates impacted the transmission of international...