BIS: currency collapses benefit output growth
A Bank for International Settlements paper, published on Monday, presents new empirical evidence of how currency collapses affect output and finds that output losses result from factors leading to a currency collapse, rather than the event itself.
The paper provides new empirical evidence on the impact of large nominal depreciations in currency on real output using a dataset for 108 emerging and developing economies from 1960 to 2006.
The authors - Matthieu Bussière, Sweta Saxena and Camilo
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