Published comparisons of real exchange rate volatility have concentrated on the dispersion of monthly or quarterly movements. If volatility is to be a measure of the potential for misalignment, account must also be taken of the persistence of such movements. A simple measure of long-run...

Previous research (on countries other than the UK) finds better-performing firms to be more likely to export. We test this hypothesis for UK firms. The relationship between exporting and firm variables is significantly different for firms that have experienced a major innovation ("innovating...