banquedefranceBanque de France122680057368664883202/10/2020 - 10:30A proxy-SVAR model on US data shows that govt spending appreciates real exchange rate, is inflationary and increases trade deficit. Check out the new #BdFeco WP by @DanieleSiena_ & coauthors 👇 https://t.co/BgGUAY8k8h