Real Exchange Rate Dynamics in a Small, Primary-Exporting Country

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Mohsin S. Khan; Peter J. Montiel;
  • Journal: Staff Papers - International Monetary Fund, volume 34, issue 4 December, pages 681-710

Although the nominal exchange rate is often used as a policy instrument in small, primary-commodity-exporting countries, the real exchange rate is an endogenous variable that responds to both exogenous and policyinduced shocks. This paper examines the dynamic effects on... View more
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