In this paper we consider a range of topics which connect exchange rates to the economic growth process. In particular, we first of all outline the basic properties of exchange rates when they are flexible. One key feature of flexible exchange rates is that they are highly volatile and such...

The purpose of this paper is to develop a theoretical model of the attack on the Italian Lira and the British Pound and the subsequent exit of these currencies from the ERM in September 1992. One element that has been crucial in the formulation of agents' expectations of future exchange rates,...

The paper aims to enrich the debate on the overvaluation/undervaluation of China yuan Renminbi (CNY) against USD and JPY by applying the concept of the Debt-Adjusted Real Exchange Rate (DARER). This approach is offering to monetary policy makers another indicator for more responsive management...