aim of uncovering a single structural parameter, but theory suggests it could differ depending on the shock that drives … exports relative to the response of the exchange rate, conditional on each shock. Our findings suggest that this relationship … differs greatly from one shock to another, where domestic shocks generate a much weaker relationship than global shocks. We …

dollar shock, generalised impulse response function shocks and a global shock to risk aversion. Our results show that the way … depends crucially on the nature of the shock. This result is noteworthy given the apparent divergence in competitiveness …

dollar shock, generalised impulse response function shocks and a global shock to risk aversion. Our results show that the way … depends crucially on the nature of the shock. This result is noteworthy given the apparent divergence in competitiveness …

that ERPT changes with the kind of shock and the monetary policy response to it. …