Do Policy-Related Shocks Affect Real Exchange Rates? An Empirical Analysis Using Sign Restrictions and a Penalty-Function Approach
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1 ISSN X Australia Department of Econometrics and Business Statistics Do Policy-Related Shocks Affect Real Exchange Rates? An Empirical Analysis Using Sign Restrictions and a Penalty-Function Approach Taya Dumrongrittikul November 2011 Working Paper 25/11
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59 B Table Appendix Table B1: Trade fixed weights based on direction of trade statistics China Japan Korea Malaysia Indonesia Philippines Thailand Singapore India Pakistan Sri Lanka Australia N. Zealand U.K. EU. Canada Brazil Mexico Chile Norway Sweden Turkey Switzerland Argentina S. Africa U.S. China Japan Korea Malaysia Indonesia Philippines Thailand Singapore India Pakistan Sri Lanka Australia N. Zealand U.K EU Canada Brazil Mexico Chile Norway Sweden Turkey Switzerland Argentina S Africa U.S Note: Trade weights are computed as average shares of exports and imports over displayed in columns by country such that a column, but not a row, sums to one. Source: Direction of Trade Statistics, , IMF. 58
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