Pauls, B. Dianne; Helkie, William L. - Federal Reserve Board (Board of Governors of the … - 1987
Recent attention has focused on measures of the dollar's effective exchange rate amid disappointment by some observers … with the response of the U.S. trade balance to the depreciation of the dollar since February 1985. In particular, these … observers suggest that the traditional indexes, which include only currencies of industrial countries, overstate the dollar …