Government spending on infrastructure has recently increased sharply in many emerging-market economies. This paper examines the mechanism through which public infrastructure spending affects the dynamics of the real exchange rate. Using a two-sector dependent open economy model with...

Intro -- Contents -- I. INTRODUCTION -- II. THE MACROECONOMIC BALANCE APPROACH -- III. THE EXTENDED PPP APPROACH: SINGLE-COUNTRY ESTIMATES -- IV. THE EXTENDED PPP APPROACH: PANEL DATA ESTIMATES -- V. CONCLUDING REMARKS -- APPENDIX. METHODOLOGICAL DIFFICULTIES OF DEALING WITH SLOPE HETEROGENEITY...

Intro -- Contents -- I. INTRODUCTION -- II. MEASURING THE COST OF LIVING -- III. TRUE REAL EFFECTIVE EXCHANGE RATES -- IV. AN APPLICATION: THE IRISH ECONOMY'S EXPOSURE TO STERLING -- V. CONCLUSION -- Appendix -- References.

Intro -- Contents -- I. INTRODUCTION -- II. VARIANCE ANALYSIS OF THE PESO-DOLLAR REAL EXCHANGE RATE -- III. SUDDEN STOPS AND NONTRADABLES-DRIVEN REAL EXCHANGE RATE VOLATILITY -- IV. CONCLUSIONS -- REFERENCES.

Intro -- Contents -- I. INTRODUCTION -- II. THE MODEL -- III. EXTENSIONS TO THE BASELINE MODEL -- IV. ESTIMATION AND MODEL COMPARISON -- V. RESULTS -- VI. CONCLUDING REMARKS -- APPENDIX: THE METROPOLIS-HASTINGS ALGORITHM -- REFERENCES.

Intro -- Contents -- I. INTRODUCTION -- II. THE LITERATURE -- III. RECENT DEVELOPMENTS IN EXCHANGE RATES IN BOTSWANA -- IV. ANALYTICAL FRAMEWORK -- V. ESTIMATION RESULTS -- VI. DISCUSSION -- VII. CONCLUSION -- EXPERIENCES OF OTHER COUNTRIES ADOPTING CRAWLING PEG ARRANGEMENTS -- REFERENCES.