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Expenditure switching vs. real exchange rate stabilization : competing objectives for exchange rate policy

Devereux, Michael B. (contributor); … - 2006

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

Persistent link: https://www.econbiz.de/10003320659

Expenditure switching vs. real exchange rate stabilization : competing objectives for exchange rate policy

Devereux, Michael B.; Engel, Charles - 2006

Persistent link: https://www.econbiz.de/10003326101

Expenditure switching versus real exchange rate stabilization : competing objectives for exchange rate policy

Devereux, Michael B.; Engel, Charles - In: Journal of monetary economics 54 (2007) 8, pp. 2346-2374

Persistent link: https://www.econbiz.de/10003614275

Expenditure Switching vs. Real Exchange Rate Stabilization : Competing Objectives for Exchange Rate Policy

Devereux, Michael B. - 2006

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 …

Persistent link: https://www.econbiz.de/10012466453

Expectations and Exchange Rate Policy

Devereux, Michael B. - 2006

Both empirical evidence and theoretical discussion have long emphasized the impact of "news" on exchange rates. In most exchange rate models, the exchange rate acts as an asset price, and as such responds to news about future returns on assets. But the exchange rate also plays a role in...

Persistent link: https://www.econbiz.de/10012466455

The Responsiveness of Consumer Prices to Exchange Rates And the Implications for Exchange-Rate Policy : A Survey Of a Few Recent New Open-Economy

Engel, Charles - 2002

The traditional case for flexibility in nominal exchange rates assumes that there is nominal price stickiness that prevents relative prices from adjusting in response to real shocks. When prices are sticky in producers' currencies, nominal exchange rate changes can achieve the relative price...

Persistent link: https://www.econbiz.de/10012469990