The real exchange rate and US manufactur
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Richard H. Clarida
📂
Article
📅
1997
🏛
John Wiley and Sons
🌐
English
⚖ 205 KB
This paper studies the relationship between the real exchange rate and manufacturing pro®ts using Marston's model of pricing-to-market. Looking at US data, we ®nd that a sustained real depreciation of the dollar has a signi®cant and substantial in¯uence on manufacturing pro®ts. During the early 1980