There is reliable evidence that simple rules used by traders have some predictive value over the future momoment of foreign exchange prices. This paper will review some of this evidence and discuss the economic magnitude of this predictabiliy.

Renewed interest in the issue of appropriate exchange rate arrangements, particularly for developing countries, has been prompted by the general increase in global capital modility and the currency and payments crises of the 1990s. Three propositions are currently heard as prescriptions...

The findings of the paper point to the fact that the fixed exchange rate regimes did not operateas an effective shield of protection from currency strains and transformational recessions.

This paper provides empirical evidence on the effectiveness of movements in nominal exchange rates in smooting cyclical imbalances between countries, as explained by the literature on optimal currency areas.

This paper reviews the dollarization and currency substitution literature with special regard to its implications for Ghana. It assesses the significance of dollarization in Ghana relative to the experience of other countries and with regard to evidence of increased use of foreign currency in...

As memories of the East Asian crises of 1997-1998 recede, attention has shifted back to the traditional problems of macroeconomic management in a small open economy. A key question, in this regard, is the appropriate choice of exchange rate regime. While the East Asian crises cased some...

This paper provides empirical evidence on the effectiveness of movements in nominal exchange rates in smooting cyclical imbalances between countries, as explained by the literature on optimal currency areas.

This study measures the proportion of U.S. exchange rate movements that can be accounted for by movements in relative prices of non-traded goods.

The purpose of this study is to assess the economic performance of African countries according to their exchange rate regimes. The methodology is based on the estimation of an empirical growth model that controls for labor productivity, investment share, initial income per capita, and changes in...