Flexing Your Muscles: Abandoning a Fixed Exchange Rate for Greater Flexibility
Chapter in NBER book NBER International Seminar on Macroeconomics 2011 (2012), Jeffrey Frankel and Christopher Pissarides, organizers (p. 353 - 391)
---- Acknowledgements -----
We are grateful to Carmen Reinhart for help with data and to Rachita Gullipalli for research support. Helpful comments were received from Joshua Aizenman, Richard Clarida, Mario Crucini, Francesco Giavazzi, Steinar Holden, Sebnem Kalemli-Ozcan, Jorge de Macedo, Knut Mork, Assaf Razin, Kenneth West, participants at ISOM, and especially Jeffrey Frankel.