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Monetary policy and exchange rates: A balanced two-country cointegrated var model approach (2017)
Journal Article
Heinlein, R., & Krolzig, H. M. (2019). Monetary policy and exchange rates: A balanced two-country cointegrated var model approach. Macroeconomic Dynamics, 23(5), 1838-1874. https://doi.org/10.1017/S1365100517000475

We study the exchange rate effects of monetary policy in a balanced macroeconometric two-country model for the United States and United Kingdom. In contrast to the empirical literature, which consistently treats the domestic and foreign countries une... Read More about Monetary policy and exchange rates: A balanced two-country cointegrated var model approach.