Aizenman, Joshua; Chinn, Menzie David; Itō, Hiro - National Bureau of Economic Research - 2022
arrangements. We find that countries that faced large terms of trade shocks or negative economic growth during the crisis increased … IR holding, post-AFC. Countries that had negative growth during the crisis also tended to pursue greater exchange rate … large current account deficits tend to be more sensitive to economic growth at the time of the AFC. Countries that are under …