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There is an ongoing debate in the literature on whether global trade flows have become disconnected from the large real effective exchange rate movements in the
Fundamentals at Odds? The U.S. Current Account Deficit and The Dollar
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The real effective exchange rate of the dollar is close to its minimum level for the past 4decades (as of September 2008). At the same time, however, the U.S. t
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"This book greatly enhances our understanding of the behavior of real exchange rates. It provides an elegant model based on a solid theoretical foundation that
The International Role of the Dollar and Trade Balance Adjustment
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The pattern of international trade adjustment is affected by the continuing international role of the dollar and related evidence on exchange rate pass-through
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