credit, including © notice, is given to the source. Macro-Hedging for Commodity Exporters

We would like to thank seminar participants at a NBER workshop, the Bank of Canada and the International Monetary Fund for useful comments. The views expressed in the paper are those of the authors and do not necessarily represent those of the Inter-American Development Bank, the International Monetary Fund, or the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications