This paper presents an empirical examination of the responsiveness of aggregate imports to variations in relative prices and domestic economic activity in the Dominican Republic under a floating exchange rate regime implemented in 1985. Using the „bounds. testing approach to co-integration of...

This paper examines the costs of recent sovereign defaults using synthetic control methods, a novel econometric technique based on comparative case studies. Evidence on the effects of debt crises is thus presented on a case-by-case basis, uncovering large variations in country-specific...