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Accounting for Persistence and Volatility of Good-Level Real Exchange Rates: The Role of Sticky Information'

Crucini, Mario J.; Shintani, Mototsugu; Tsuruga, Takayuki (Vanderbilt University, 2008)

Volatile and persistent real exchange rates are observed not only in aggregate series but also in the individual good level data. Kehoe and Midrigan (2007) recently showed that, under a standard assumption on nominal price ...