Exchange rate changes are volatile and difficult to explain. Economists have long suspected that monetary policy shocks might play an important role in accounting for this behavior. This paper combines recent developments in international finance and econometrics to assess what firm conclusions can be drawn about the role of monetary policy shocks in exchange rate behavior.
Content: Article
Authors: John H. Rogers, Jon Faust
Source: Federal Reserve
Subjects: Economics, International
Authors: John H. Rogers, Jon Faust
Source: Federal Reserve
Subjects: Economics, International
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didn’t read entire paper but seems valuable for those with interest.