Bénassy-Quéré, Agnès (contributor); … - 2006
emerging countries in global imbalances has made
such divide no longer adequate. Consistently, the exchange-rate regime of … number of currencies. This raises the problem of world consistency since the equilib-
rium exchange rate of all currencies … using both methods.
We show that the way the rest of the world is tackled has a major impact on the measure of
exchange-rate …