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Keywords:Mussa puzzle 

Working Paper
Real Exchange Rates and Primary Commodity Prices: Mussa Meets Backus-Smith

We show that explicitly modeling primary commodities in an otherwise totally standard incomplete markets open economy model can go a long way in explaining the Mussa puzzle and the Backus-Smith puzzle, two of the main puzzles in the international economics literature.
Working Papers , Paper 781

Working Paper
Online Appendix for: Real Exchange Rates and Primary Commodity Prices: Mussa Meets Backus-Smith

Working Papers , Paper 782

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