Tervala, Juha - Volkswirtschaftliche Fakultät, … - 2014
I examine the transmission of expansionary U.S. monetary policy in case where developing countries-including China-peg … their currencies to the dollar. I evaluate the value of the dollar peg as a fraction of consumption that households would be … willing to pay for the dollar peg to remain as well off under the dollar peg as under a flexible exchange rate. The value of …