Kuttner, Kenneth N.; Posen, Adam S. - 2000
volatility with the apparent reality that macroeconomic fundamentals do not drive G3 exchange rates in the short-run. The recent … on the extent to which domestic inflation and interest rate surprises contribute to short-run volatility in G3 exchange … apply it to the history of the Bank of Japan, the Bundesbank, and the Federal Reserve in the period 1975-1998, finding …