Dedola, Luca; Georgiadis, Georgios; Gräb, Johannes; … - 2018
-euro exchange rate at frequencies and horizons relevant for policymakers. To do so, we derive a theoretically-consistent local … projection regression equation from the standard asset pricing formulation of exchange rate determination. We then proxy … and persistent effects on the exchange rate. For example, our estimates imply that the ECB’s APP program which raised the …