) speculation is generally viewed positively, as enhancing market efficiency and liquidity, even though it exacerbates volatility … increases volatility, and finally; (x) traders do not view purchasing power parity as a useful concept, even though a …

exacerbates volatility; (ix) central bank intervention does not appear tohave substantial effect, although there is general … agreement that it increases volatility, and finally; (x) traders do not view purchasing power parity as a useful concept, even …

enhancing market efficiency and liquidity, even though it exacerbates volatility. Central bank intervention does not appear to … have a substantial effect, although there is general agreement that it increases volatility. Finally, traders do not view …

choices matter for output volatility and the medium-term level of inflation. Greater monetary independence is associated with … lower output volatility while greater exchange rate stability implies greater output volatility, which can be mitigated if a … inflation rate. We find that trilemma policy configurations affect output volatility through the investment or trade channel …