the price level to a temporary risk shock are permanent. Our theoretical discussion shows that adopting a credible long …

theory-conform conclusions in actual data do so in our experimental data. We infer that less empirical evidence may … contradict canonical international macro theory than previously understood. …

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

shock identification, I find that monetary policy shocks of the US relative to the euro area account for 76 percent of the …

prominent emerging markets and openeconomies, India, using a sign-identified structural Bayesian vector autoregressionmodel over … absorb shocks in the long run, itplays a more dominant role as a source of shock in the short run. This study holdsimportant … policy implications for currency stability in India, as well as similaremerging markets and open economies. Policymakers need …

The traditional view of the exchange rate as a shock absorber has been challenged by a number of studies. Therefore, it … decomposition of the exchange rate do not allow us to reject a shock-absorbing role of the exchange rate for the Czech economy. To … conclude that the shock-absorbing nature of the exchange rate prevails over shock generating one …