Commodity Currencies and Monetary Policy
---- Acknowledgments ----
Margaux MacDonald provided expert research assistance. We thank the Social Sciences and Humanities Research Council of Canada for support of this research. For helpful comments we thank Allan Gregory, Carolin Pflueger, Marcel Aloy and seminar participants at the Vancouver School of Economics and Aix Marseille School of Economics. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.