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aftermath of the global financial crisis as CCA countries have entered a relatively low inflation environment. The pass …-through estimates could be used by the CCA monetary authorities for inflation projections. The absence of non-linearities in the pass …
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Using detailed firm-level transactions data for UK imports, we find that invoicing in a vehicle currency is pervasive, with more than half of transactions in our sample invoiced in neither sterling nor the exporter's currency. We then study the relationship between invoicing currency choices and...
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