Two studies have assessed the symmetric and asymmetric effects of exchange rate changes on domestic investment. One included six emerging countries and the other one, 18 African nations. Both revealed that using nonlinear models to assess the asymmetric effects yield a more significant outcome compared to symmetric and linear models. We add to this small literature by showing the same using quarterly data from each of the G7 countries. Indeed, nonlinear models produced relatively more short‐run and long‐run effects of changes in the real effective exchange rate on domestic investment, though in an asymmetric manner.

中文翻译：

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七国集团国家实际汇率对国内投资的不对称影响

两项研究评估了汇率变动对国内投资的对称和非对称影响。一个包括六个新兴国家，另一个包括18个非洲国家。两者都表明，与对称和线性模型相比，使用非线性模型评估不对称效应会产生更显着的结果。我们使用来自七国集团（G7）每个国家的季度数据来显示相同​​的文献，从而增加了这些文献。确实，非线性模型虽然不对称地产生了实际有效汇率变化对国内投资的短期和长期的相对影响。