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Real exchange rate fluctuations impact domestic economic activity throughout the trade and financial channels. Using granular data from the Brazilian manufacturing sector, we decompose the manufacturing sector into different sub-sectors according to their net exposures to international trade and...
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on average firm-level productivity growth across regions into these channels. We then structurally estimate the model and … growth of firm-level productivity and cash-ow and higher export entry rates. We find negative average effects for firms in …
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