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I examine the effectiveness of exchange rate intervention within the context of a Markov-switching model for the real exchange rate. The probability of switching between stable and unstable regimes depends nonlinearly upon the amount of intervention, the degree of misalignment and the duration...
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independence in 1991 meant the reestablishment of links with Germany, as well as the maintenance of links to Russia. In comparison …This paper examines Latvia's foreign trade and investment relations with Germany and Russia during the interwar period … was Germany, whilst trade with Russia (USSR) was minimal. The reorientation of Latvian trade to the West after regaining …
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