What Makes a Currency Procyclical? : An Empirical Investigation
This paper looks at the correlation between the cyclical components of gross domestic product and the exchange rate and classifies countries' currencies as procyclical if they appreciate in good times, countercyclical if they appreciate in bad times, and acyclical otherwise. With this classific...
| Main Authors: | , |
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| Format: | Journal Article |
| Language: | en_US |
| Published: |
Elsevier
2015
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/22713 |