Roads and the Real Exchange Rate
---- Acknowledgments ----
We thank Charles Engel, Jeff Frankel, Yiping Huang, Andy Rose, Vivian Yue, and conference/seminar participants at the AEA San Diego Meetings, European Central Bank, Bank of Canada, Monetary Authority of Singapore, the Federal Reserve Board, Columbia University, University of Michigan, Georgetown University, University of Maryland, and National University of Singapore for helpful comments and Joy Glazener, Ellen Lin, and Nikhil Patel for editorial help. We are solely responsible for any possible errors in the paper. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.