monetaryregime chosen, though not necessarily on monetary shocks. Wegive a simple account of exchange rate volatility in terms …We propose a theory of exchange rate determination under interestrate rules in a two-country model. We first show that … ofmonetary policy rules, we provide an explanation of the relationbetween nominal exchange rate volatility and …

rate volatility, and outliers. We also oer a simple monetary growth model in which real exchange rate uncertainty …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 …

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... …

virtually all currencies globally. The paper findsthat negative US-specific macroeconomic shocks during the crisis have … of individual countries are found to have playeda key role in the transmission process of US shocks: in particular …

the nature of shocks, the optimal inflation target isalways positive. Under monetary targeting, shocks to endowment … between the two vanishes as the shock process approaches a random walk.In sharp contrast, for shocks to the real interest rate …The tug-o-war for supremacy between inflation targeting and monetary tar-geting is a classic yet timely topic in …

Finanzkrise, Wirtschaftsflaute, Rezession – kaum eine Branche ist nicht von den starken Turbulenzen auf den globalen …

, we show that the second dimension magnifies the exposure of periphery countries to the center’s monetary policy, even … to the center’s monetary policy, the model predicts substantial welfare gains from coordinated monetary policy. Our model …