Closing borders has always been a typical reaction to pandemics in the history of humanity, and the responses to Covid-19 mark no difference. Initiatives to limit the diffusion of the virus has put the closure of national borders under the spotlight worldwide. However, national scale offers a...

The effectiveness of exchange rate adjustments depends critically on the extent to which depreciations "pass through" to inflation, an effect that is known as exchange rate pass-through (ERPT). In particular, if an exchange rate depreciation does not result in a lasting change in relative...