Bahmani-Oskooee, Mohsen; Kandil, Magda - In: Emerging Markets Finance and Trade 46 (2010) 3, pp. 23-45
Conventional wisdom states that currency depreciation in oil-producing countries is contractionary because demand … currency depreciation expansionary. The expansionary effect is particularly evident regarding anticipated persistent … depreciation in the long run. Notwithstanding the varying effects of exchange rate fluctuations on the demand and supply sides of …