An introduction to a new exchange-rate index to measure the foreign-exchange value of the dollar. The authors develop a …

The paper first surveys recent estimates of the appropriate yen dollar exchange rate that have been proposed in the … literature. Most of the more careful estimates suggest that the yen was substantially undervalued against the dollar in early …

widely argued that flexible exchange rate regimes encourage banks to match dollar-denominated liabilities with a … corresponding amount of dollar-denominated assets, ameliorating currency mismatches. Does the behavior of dollar deposits and credit …

countries, the role of the dollar in ERM exchange rate crises, and ERM members' credibility as measured by the realignment … interest rates and weakness of the U.S. dollar. …