Pesenti, Paolo A.; Roubini, Nouriel; Tille, Cédric; … - National Bureau of Economic Research (NBER) - 1999
This paper studies the mechanism of international transmission of exchange rate shocks within a 3-country Center-Periphery model, providing a choice-theoretic framework for the policy analysis and empirical assessment of competitive devaluations. If relative prices and terms of trade exhibit...