developed for the analysis of exchange-rate questions and to relate it to the question of monetary policy. Part I concentrates … on the development of the relevant theoretical framework. The main points to be made here are: (i) exchange rates are … primarily deter-mined in asset markets with expectations playing a dominant role; (ii) the sharpest formulation of exchange …

, particularly in emerging markets. One view blames fixed exchange rates-- soft pegs'--for these meltdowns. Adherents to that view … advise countries to allow their currency to float. We analyze the behavior of exchange rates, reserves, the monetary … aggregates, interest rates, and commodity prices across 154 exchange rate arrangements to assess whether official labels' provide …

This paper assesses the stabilization properties of fixed versus flexible exchange rate regimes and aims to answer this … research question: Does greater exchange rate flexibility help an economy’s adjustment to weather shocks? To address this … question, the impact of weather shocks on real per capita GDP growth is quantified under the two alternative exchange rate …

The exchange market pressure index has proven to be a major indicator in identifying exchange rate crises in economies …. Specifically, the selection of an appropriate index and the problem of selecting the appropriate threshold for identifying exchange … market pressure. To investigate this issue, this study identifies exchange rate crisis episodes in South Africa and Ghana …

This paper assesses the stabilization properties of fixed versus flexible exchange rate regimes and aims to answer this … research question: Does greater exchange rate flexibility help an economy's adjustment to weather shocks? To address this … question, the impact of weather shocks on real per capita GDP growth is quantified under the two alternative exchange rate …