| Period | Exchange Rate Regime | U.S. PC Slope | t-stat | Adj. R2 |
|---|---|---|---|---|
| 1948-1971 | Bretton Woods | -1.6*** | -4.4 | 44% |
| 1971-2018 | Flexible Exchange Rates | 0.2 | 1.0 | -0.1% |
\pagenumbering{gobble}
\pagenumbering{gobble}
| Period | Exchange Rate Regime | U.S. PC Slope | t-stat | Adj. R2 |
|---|---|---|---|---|
| 1948-1971 | Bretton Woods | -1.6*** | -4.4 | 44% |
| 1971-2018 | Flexible Exchange Rates | 0.2 | 1.0 | -0.1% |