exchange rate so as to facilitate terms of trade adjustment. We show that optimal nominal exchange rate volatility will reflect … bias in production. Quantitatively, we find the optimal exchange rate volatility should be significantly less than would be … optimal exchange rate volatility may be non-monotonic …

Fixed exchange rates are less volatile than floating rates. But the volatility of macroeconomic variables such as money … exchange rate volatility and macroeconomic stability …

central banks in the absence of any formal arrangements among their governments to limit exchange rate volatility. The … advocates of the proposals for change have made their assessment of the global costs of exchange rate volatility and (their …

displayed a surprisingly high degree of time-conditional volatility. This volatility can be explained statistically using … autoregressive conditional heteroscedasticity models, but there remains the question of the economic source of this volatility … known Fed intervention generally decreased volatility over the full period. Further, results indicate that intervention need …