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Existing models fail to explain the large fluctuations in the real exchange rates of most currencies over the past twenty years. The Natural Real Exch...
Modeling an Open Economy
This paperback edition consists of the first three parts of Allen and Kenen's major book, Asset Markets, Exchange Rates, and Economic Integration. The...
It concentrates on the real exchange rate, and explains medium-to long-run movements in equilibrium real exchange rates in terms of fundamental variab...
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Birth of a New Currency