Ollivaud, Patrice; Rusticelli, Elena; Schwellnus, Cyrille - 2015
Recent episodes of large exchange rate movements, such as for Japan or the United Kingdom, have typically not been … reducing exchange rate pass-through to the terms of trade, which may in turn have contributed to reducing the response of trade … balances to exchange rate changes. Further empirical evidence suggests that over the past two decades large net external debtor …