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dc.rights.licensehttp://rightsstatements.org/page/InC/1.0/?language=eses_AR
dc.contributor.authorEdwards, Sebastiánes_AR
dc.contributor.authorLevy Yeyati, Eduardoes_AR
dc.date.accessioned2018-03-30T21:13:15Z
dc.date.available2018-03-30T21:13:15Z
dc.date.issued2003-07
dc.identifier.urihttp://repositorio.utdt.edu/handle/utdt/10762
dc.description.abstractIn this paper we analyze empirically the effect of terms of trade shocks on economic performance under alternative exchange rate regimes. We are particularly interested in investigating whether terms of trade disturbances have a smaller effect on growth in countries with a flexible exchange rate regime, than in countries with a more rigid exchange rate arrangement. We also analyze whether negative and positive terms of trade shocks have asymmetric effects on growth, and whether the magnitude of these asymmetries depends on the exchange rate regime. We find evidence suggesting that terms of trade shocks get amplified in countries that have more rigid exchange rate regimes. We also find evidence of an asymmetric response to terms of trade shocks: the output response is larger for negative than for positive shocks. Finally, we find evidence supporting the view that, after controlling for other factors, countries with more flexible exchange rate regimes grow faster than countries with fixed exchange rates.es_AR
dc.description.sponsorshipPara cualquier uso del contenido del presente documento debe ponerse en contacto con el autor.es_AR
dc.format.extent34 p.es_AR
dc.format.mediumapplication/pdfes_AR
dc.languageenges_AR
dc.publisherUniversidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF)es_AR
dc.relation.ispartofCentro de Investigaciones Financieras (CIF). Documentos de trabajo 17/2003
dc.rightsinfo:eu-repo/semantics/restrictedAccesses_AR
dc.subjectPolítica monetariaes_AR
dc.subjectTipo de cambioes_AR
dc.subjectAnálisis financieroes_AR
dc.subjectAnálisis comparativoes_AR
dc.titleFlexible exchange rates as shock absorberses_AR
dc.typeinfo:eu-repo/semantics/workingPaper
dc.type.versioninfo:eu-repo/semantics/acceptedVersiones_AR


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