Binder, Michael; Chen, Qianying; Zhang, Xuan - CESifo - 2010
In this paper we re-consider the effects of monetary policy shocks on exchange rates and forward premia. In the recent … that in particular (i) allows for simultaneous multi-country adjustments in response to monetary policy shocks, and (ii …) takes advantage of the identifying restrictions for monetary policy shocks implied by empirically supported long …