worldtradable goods prices. Indeed, trade prices were fallingthroughout Asia by similar magnitudes, regardless of howmuch each …

[...]In our view, this apparently surprising immunity of the U.S.economy to the Asia crisis reflects the fact that the …

Can pegging reduce real as well as nominal, and multilateral as well as bilateralexchange rate volatility? We …

Real effective exchange rate volatility is examined for 90 countries using monthlydata from January 1990 to June 2006 …. Volatility decreases with openness tointernational trade and per capita GDP, and increases with inflation, particularlyunder a … horizontal peg or band, and with terms-of-trade volatility. The choice ofexchange rate regime matters... …

This paper offers empirical evidence that real exchange rate volatility can have a significant impact on the long … with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for … rate volatility, and outliers. We also oer a simple monetary growth model in which real exchange rate uncertainty …

monetaryregime chosen, though not necessarily on monetary shocks. Wegive a simple account of exchange rate volatility in terms … ofmonetary policy rules, we provide an explanation of the relationbetween nominal exchange rate volatility and …