Accounting for Persistence and Volatility of Good-Level Real Exchange Rates: The Role of Sticky Information
NBER Working Paper No. 14381
---- Acknowledgements -----
We would like to thank Eiji Fujii, seminar and conference participants at Duke, Hokkaido, North Carolina State and Osaka University, the Federal Reserve Bank of Dallas, 2008 Midwest Macro Meetings, 2007 9th TCER Macroeconomic Conference for helpful comments and discussions. Mario J. Crucini gratefully acknowledges the financial support of National Science Foundation. The views expressed in the paper are those of the authors and are not reflective of those of the Bank of Japan or the National Bureau of Economic Research.