Global Value Chains and Effective Exchange Rates at the Country-Sector Level
The real effective exchange rate (REER) is one of the most cited statistics in open-economy macroeconomics. We show that the models used to compute these numbers are not rich enough to allow for the rising importance of global value chains. Moreover, because different sectors within a country partic...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Blackwell Publishing Inc.
2019
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |