Brancaccio, Emiliano; Garbellini, Nadia - In: Rivista di Politica Economica (2014) 3, pp. 305-328
The present paper investigates 28 episodes of transition from a fixed to a relatively more flexible exchange rate regime, taking place together with a depreciation of the national currency by more than 25% with respect to the US dollar, in the time period between 1980 and 2013. On average, the...