C Engel… - 1989 - nber.org
ABSTRACT The value of the dollar appears to move in one direction for long periods of time.
We develop a new statistical model of exchange rate dynamics as a sequence of stochastic,
segmented time trends. The paper implements new techniques for parameter estimation ...
C Engel - Journal of Empirical Finance, 1996 - Elsevier
Forward exchange rate unbiasedness is rejected in tests from the current floating exchange
rate era. This paper surveys advances in this area since the publication of Hodrick's (1987)
survey. It documents that the change in the future exchange rate is generally negatively ...
C Engel - 1995 - nber.org
This study measures the proportion of US real exchange rate movements that can be
accounted for by movements in the relative prices of non-traded goods. The decomposition
is done at all possible horizons that the data allow--from one month up to thirty years. The ...
MB Devereux… - Review of Economic Studies, 2003 - Wiley Online Library
This paper develops a welfare-based model of monetary policy in an open economy. We
examine the optimal monetary policy under commitment, focusing on the nature of price
adjustment in determining policy. We investigate the implications of these policies for ...
C Engel - Journal of Monetary Economics, 1993 - Elsevier
Abstract This paper uncovers a striking empirical regularity: the consumer price of a good
relative to a different good within a country tends to be much less variable than the price of
that good relative to a similar good in another country. This fact seems to hold for all goods ...
C Engel… - 2004 - nber.org
We show analytically that in a rational expectations present value model, an asset price
manifests near random walk behavior if fundamentals are I (1) and the factor for discounting
future fundamentals is near one. We argue that this result helps explain the well known ...
C Engel - 1996 - nber.org
Recent tests using long data series find evidence in favor of long-run PPP (by rejecting
either the null hypothesis of unit roots in real exchange rates or the null of no cointegration
between nominal exchange rates and relative prices.) These tests may have reached the ...
AK Rose… - 2000 - nber.org
This paper characterizes the integration patterns of international currency unions (such as
the CFA Franc zone and the East Caribbean Currency Area). We empirically explore
different features of currency unions, and compare them both to countries with sovereign ...
MB Devereux… - Journal of Monetary economics, 2002 - Elsevier
This paper explores the hypothesis that high volatility of real and nominal exchange rates
may be due to the fact that local currency pricing eliminates the pass-through from changes
in exchange rates to consumer prices. Exchange rates may be highly volatile because in a ...
C Hoge, A Terhakopian, C Castro… - American Journal of …, 2007 - Am Psychiatric Assoc
Objective: Studies of soldiers from prior wars conducted many years after combat have
shown associations between combat-related posttraumatic stress disorder (PTSD) and
physical health problems. The current Iraq war has posed a considerable PTSD risk, but ...
C Engel - 1994 - nber.org
A Markov-switching model is fit for eighteen exchange rates at quarterly and monthly
frequencies. This model fits well in-sample at the quarterly frequency for many exchange
rates. By the mean-squared-error or mean-absolute-error criterion. the Markov model ...
MB Devereux, C Engel… - 2003 - nber.org
This paper develops a model of endogenous exchange rate pass through within an open
economy macroeconomic framework, where both pass-through and the exchange rate are
simultaneously determined, and interact with one another. Pass-through is endogenous ...
MB Devereux… - 1998 - nber.org
We investigate the welfare properties of fixed and floating exchange rate regimes in a two-
country, dynamic, infinite-horizon model with agents optimizing in an environment of
uncertainty created by monetary shocks. The optimal exchange rate regime may depend ...
T Grieger, S Cozza, R Ursano… - American Journal of …, 2006 - Am Psychiatric Assoc
Objective: This study examined rates, predictors, and course of probable posttraumatic
stress disorder (PTSD) and depression among seriously injured soldiers during and
following hospitalization. Method: The patients were 613 US soldiers hospitalized ...
C Engel… - Economic Policy, 2004 - Wiley Online Library
Using a detailed data set of prices of consumer goods in European cities from 1990 to
Spring 2003, we investigate the question of whether the introduction of the euro in January
1999 increased integration of consumer markets as reflected by consumer prices. In fact, ...
C Engel… - Journal of International Economics, 2001 - Elsevier
We explore deviations from short-run purchasing power parity (PPP) across European cities,
attempting to move beyond a 'first-generation'of papers that document very large border
effects. We document two very distinct types of border effects embedded in relative prices. ...
C Engel, NC Mark… - 2007 - nber.org
Standard models of exchange rates, based on macroeconomic variables such as prices,
interest rates, output, etc., are thought by many researchers to have failed empirically. We
present evidence to the contrary. First, we emphasize the point that" beating a random ...
C Engel… - Journal of Monetary Economics, 1984 - Elsevier
Abstract When the Fed announces a money supply greater than had been expected, interest
rates rise. Why? One explanation is that the market raises its estimate of the future rates of
money growth and inflation, and bids up nominal interest rates. We offer contrary evidence ...
C Engel… - 1987 - nber.org
We perform maximum likelihood estimation of a model of international asset pricing based
on CAPM. We test the restrictions imposed by CAPM against a more general asset pricing
model. The" betas" in our CAPM vary over time from two sources--the supplies of the ...
CW Hoge, SE Lesikar, R Guevara… - American Journal of …, 2002 - Am Psychiatric Assoc
0.
C Engel - 2003 - nber.org
Exchange-rate flexibility, it has been argued, is useful because it facilitates relative price
adjustment among countries. Currency depreciation is a quick and painless way to lower
domestic prices relative to foreign prices. Much attention has been paid recently to the ...
C Engel… - Journal of monetary Economics, 2006 - Elsevier
We investigate the possibility that the large current account deficits of the US are the
outcome of optimizing behavior. We develop a simple long-run world equilibrium model in
which the current account is determined by the expected discounted present value of its ...
C Engel… - 1999 - nber.org
We use new disaggregated data on consumer prices to determine why there is variability in
prices of similar goods across US cities. We address questions similar to those that have
arisen in the international context: is this variability purely a result of market segmentation ...
C Engel… - 1996 - nber.org
We investigate the behavior of the long-run US/UK real exchange rate from 1885 to 1995.
Our long-run real exchange rate series is derived from an unobserved components model
which divides the real exchange rate into permanent and transitory components. The ...
MB Devereux… - 2001 - nber.org
Many papers in the recent literature in open economy macroeconomics make different
assumptions about the currency in which firms set their export prices when nominal prices
must be pre-set. But to date, all of these studies take the currency of price setting as ...
J Frankel… - Journal of International Economics, 1984 - Elsevier
C Engel… - 1998 - nber.org
The failure of the law of one price has been a puzzle for economists at least since Isard's
classic 1977 study. There has been renewed interest in this problem recently. A significant
motivation for this resurgence of interest has been the apparently large misalignment of ...
CC Engel, AL Engel, SJ Campbell… - Journal of Nervous and …, 1993 - psycnet.apa.org
APA PsycNET Our Apologies! - The following features are not available with your
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C Engel… - 2006 - nber.org
This paper develops a two-country monetary DSGE model in which households choose a
portfolio of home and foreign equities, and a forward position in foreign exchange. Some
goods prices are set without full information of the state. We show that temporarily sticky ...
B Litz, C Engel, R Bryant… - American Journal of …, 2007 - Am Psychiatric Assoc
Objective: The authors report an 8-week randomized, controlled proof-of-concept trial of a
new therapist-assisted, Internet-based, self-management cognitive behavior therapy versus
Internet-based supportive counseling for posttraumatic stress disorder (PTSD). Method: ...
MB Devereux… - 2001 - nber.org
The modern literature on the choice of fixed versus flexible exchange rate regimes traces
back to Friedman (1953). Friedman's contribution emphasized the enhanced flexibility of
relative prices afforded by floating exchange rates in a world where nominal goods prices ...
CC Engel Jr, X Liu, BD McCarthy… - Psychosomatic …, 2000 - Am Psychosomatic Soc
Psychosomatic Medicine. Skip to main page content. ...
CM Engel… - CEPR Discussion Papers, 2001 - ideas.repec.org
... 34(4), pages 1067-89, November. Paper: Andrew K. Rose & Charles Engel, 2000.
"Currency ... 90(358), pages 314-29, June. [Downloadable!] (restricted). Charles Engel
& Michael K. Hendrickson & John H. Rogers, 1997. "Intra ...
C Engel… - 2004 - nber.org
We explore the link between an interest rate rule for monetary policy and the behavior of the
real exchange rate. The interest rate rule, in conjunction with some standard assumptions,
implies that the deviation of the real exchange rate from its steady state depends on the ...
C Engel… - 1996 - nber.org
Exchange rates of currencies in the Exchange Rate Mechanism of the EMS are
characterized by long periods of stability interrupted by periods of extreme volatility. The
periods of volatility appear at times of realignments of the central parities and at times ...
C Engel - Journal of international Economics, 1992 - Elsevier
Abstract The foreign exchange risk premium in a cash-in-advance model is investigated.
Some weaknesses of the definition of the risk premium generally used are discussed. It is
shown that the primary ultimate source of foreign exchange risk is the covariance of ...
MB Devereux… - Journal of Monetary Economics, 2007 - Elsevier
This paper develops a view of exchange rate policy as a trade-off between the desire to
smooth fluctuations in real exchange rates so as to reduce distortions in consumption
allocations, and the need to allow flexibility in the nominal exchange rate so as to facilitate ...
Recently, Imbs et. al.(2002) have claimed that much of the purchasing power parity puzzle
can be explained by aggregation bias'. This paper re-examines aggregation bias. First, it
clarifies the meaning of aggregation bias and its applicability to the PPP puzzle. Second, ...
C Engel… - International Economic Review, 1989 - JSTOR
We examine a model of a small open economy in which there is free international mobility of
financial capital, investment in capital goods and a non-traded good. Such an environment
is rich enough to explain several phenomena that are inexplicable in other models. We ...
CE Engel - British journal of hospital medicine, 1992 - ncbi.nlm.nih.gov
1. Br J Hosp Med. 1992 Sep 16-Oct 6;48(6):325-9. Problem-based learning. Engel
CE. Centre for Higher Education Studies, Institute of Education of the University of
London. Problem-based learning is now a well-established ...
C Engel - 2002 - nber.org
The traditional case for flexibility in nominal exchange rates assumes that there is nominal
price stickiness that prevents relative prices from adjusting in response to real shocks. When
prices are sticky in producers' currencies, nominal exchange rate changes can achieve ...
C Engel, MK Hendrickson… - 1997 - nber.org
This paper builds a model of adjustment toward PPP for a panel of real exchange rates. The
model eliminates some inconsistencies in previous models, which implied a model for the
real exchange rate of country B relative to country C that was not commensurate with the ...
C Engel… - 1999 - papers.ssrn.com
Abstract: We reexamine the effect of the US/Canadian border on integration of markets. The
paper updates work from our earlier paper, Engel and Rogers (1996). We consider
alternative measures of deviations from the law of one price. We pay special attention to ...
C Engel… - 2008 - nber.org
Data for OECD countries document: 1. imports and exports are about three times as volatile
as GDP; 2. imports and exports are pro-cyclical, and positively correlated with each other; 3.
net exports are counter-cyclical. Standard models fail to replicate the behavior of imports ...
C Engel - European Economic Review, 2000 - Elsevier
Feldstein (1992, The Economist 19–22; 1997, Journal of Economic Perspectives 11, 23–42)
invokes Friedman's (1953, Essays in Positive Economics. Chicago University Press,
Chicago, pp. 157–203) classic case for flexible exchange rates to argue that the single ...
DJ Clauw, CC Engel Jr, R Aronowitz… - … of occupational and …, 2003 - journals.lww.com
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C Engel… - 2001 - nber.org
The purchasing power parity puzzle relates to the adjustment of real exchange rates. Real
exchange rates are extremely volatile, suggesting that temporary shocks emanate from the
monetary sector. But the half-life of real exchange rate deviations is extremely large--2.5 to ...
MB Devereux, C Engel… - International Economic …, 2003 - Wiley Online Library
This article explores the implications of the European single currency within a simple sticky
price intertemporal model. We focus on the question of how the euro may change the
sensitivity of consumer prices in Europe to exchange-rate changes. Our central conjecture ...
CM Engel - Journal of International Economics, 1984 - Elsevier
C Engel - Journal of International Money and Finance, 1996 - Elsevier
In a recent paper in the JIMF, Crowder (1994) claims that evidence that spot exchange rates
are cointegrated and forward premiums are non-stationary implies international capital
markets are not efficient. This note argues that the cointegration properties of spot ...
C Engel - 2005 - nber.org
Firms sometimes write price lists or catalogs for their exports, so they set prices for a period
of time and do not adjust prices during that interval in response to changes in their
environment. The firm sets the price either in its own currency or the importer's currency. ...
MB Devereux, C Engel… - 1999 - nber.org
This paper explores the implications of the European single currency within a simple sticky
price intertemporal model. The main issue we focus on is how the euro may alter the
responsiveness of consumer prices to exchange rate changes. Our central conjectures is ...
C Engel… - 2004 - nber.org
Nominal exchange rates in low-inflation advanced countries are nearly random walks. Engel
and West (2003a) offer an explanation for this in the context of models in which the
exchange rate is determined as the discounted sum of current and expected future ...
C Engel - 2000 - nber.org
This paper examines optimal exchange-rate policy in two-country sticky-price general
equilibrium models in which households and firms optimize over an infinite horizon in an
environment of uncertainty. The models are in the vein of the new open-economy ...
CC Engel Jr, R Ursano, C Magruder… - … of Occupational and …, 1999 - journals.lww.com
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for Journal of Occupational and Environmental Medicine. Enter your Email address:
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C Engel - The Manchester School, 2002 - Wiley Online Library
General equilibrium optimizing models with sticky nominal prices allow us to revisit
questions about optimal monetary policy in open economies. If nominal prices are set in
producers' currencies, appropriate monetary policy can reproduce the allocations under ...
AJ Mansfield, JS Kaufman… - … England Journal of …, 2010 - Mass Medical Soc
Page 1. n engl j med 362;2 nejm.org january 14, 2010 101 The new england journal
of medicine established in 1812 january 14, 2010 vol. 362 no. 2 Deployment and
the Use of Mental Health Services among US Army Wives ...
A Terhakopian, N Sinaii, CC Engel… - Journal of traumatic …, 2008 - Wiley Online Library
Page 1. Journal of Traumatic Stress, Vol. 21, No. 3, June 2008, pp. 290–300 (C 2008)
Estimating Population Prevalence of Posttraumatic Stress Disorder: An Example
Using the PTSD Checklist Artin Terhakopian Center for the ...
C Engel… - 2009 - books.google.com
The paper investigates the determinants of foreign currency borrowing by the private sector
in the new member states of the European Union. We find that striking differences in patterns
of foreign currency borrowing between countries are explained by the loan-to-deposit ...
CC Engel Jr, JA Adkins… - Environmental health …, 2002 - ncbi.nlm.nih.gov
Page 1. Unexplained Symptoms after Events of Public Health Concern In the early
days of industrialization, risks and hazards were evident to the senses—they could
be smelt, touched, tasted or observed with the naked eye. ...
BT Litz, L Williams, J Wang, R Bryant… - … Research and Practice, 2004 - psycnet.apa.org
Page 1. A Therapist-Assisted Internet Self-Help Program for Traumatic Stress Brett
T. Litz Boston Department of Veterans Affairs Healthcare System and Boston University
School of Medicine/Boston University Lawrence Williams ...
C Engel - 2009 - nber.org
This paper examines optimal monetary policy in an open-economy two-country model with
sticky prices. We show that currency misalignments are inefficient and lower world welfare.
We find that optimal policy must target not only inflation and the output gap, but also the ...
C Engel - 1999 - nber.org
This paper investigates the behavior of the foreign exchange risk premium in two recent two-
country intertemporal-optimizing general equilibrium models with sticky nominal prices:
Obstfeld-Rogoff (1998) and Devereux-Engel (1998). The foreign exchange risk premium ...
C Engel, JH Rogers, SY Wang… - 2003 - c.federalreserve.gov
Abstract We reexamine the evidence for “border effects” in deviations from the law of one
price, using data for consumer prices from Canadian and US cities. The study parallels
Engel and Rogers (1996), except that this study uses actual price data rather than price ...
C Engel… - ECONOMIC REVIEW-FEDERAL …, 1993 - kansascityfed.org
The perception is widespread that foreign exchange rates are too volatile. In 1992, for
example, the US dollar rose more than 2 percent against the German mark in one day on
seven separate occasions. While a 2 percent daily change may seem small, it ...
MB Devereux… - 2006 - nber.org
Both empirical evidence and theoretical discussion have long emphasized the impact of
“news” on exchange rates. In most exchange rate models, the exchange rate acts as an
asset price, and as such responds to news about future returns on assets. But the ...
CC Engel, T Oxman, C Yamamoto… - Military …, 2008 - ingentaconnect.com
CE Engel - London: Academic Press, 1968, edited by Engel, …, 1968 - adsabs.harvard.edu
C Engel… - Journal of International Economics, 1990 - Elsevier
Abstract We explore how a tariff may affect saving through intergenerational redistribution of
income that is caused by changes in factor prices and by the distribution of tariff revenue.
The model is a Blanchard-style overlapping generations model. Two types of revenue ...
LA Labbate, E Cardeña, J Dimitreva… - Psychotherapy and …, 1998 - content.karger.com
<bold>Background:</bold> Traumatic combat experience has been associated with the
development of posttraumatic stress disorder, but there have been few studies about the
association of military combat experience and the development of somatoform disorders. <bold> ...
CC Engel Jr - Military medicine, 2001 - ukpmc.ac.uk
UK PubMed Central (UKPMC) is an archive of life sciences journal literature.
C Engel… - 1984 - nber.org
On a Friday that the Fed announces a money supply greater than had been anticipated,
interest rates move up in response. Why? One explanation is that the market perceives the
fluctuation in the moneystock as an unintended deviation from the Fed's target growth rate ...
TC Smith, M Zamorski, B Smith… - BMC Public …, 2007 - w02.biomedcentral.com
biomedcentral.com/bmcpublichealth/article/10.1186/1471/2458/7/340. Bottom,Top. ...
CC Engel, KC Hyams, K Scott - … of the Royal …, 2006 - rstb.royalsocietypublishing.org
C Engel - Going interprofessional: working together for health …, 1994 - books.google.com
This chapter touches on the purpose and functions of teams before it examines what helps
or hinders effective teamwork. These considerations provide a conceptual framework for a
review of the competences that need to be developed and supported in members of the ...
CC Engel Jr, M Roy, D Kayanan… - Military medicine, 1998 - ukpmc.ac.uk
UK PubMed Central (UKPMC) is an archive of life sciences journal literature.
CC Engel Jr, X Liu, R Clymer… - … of occupational and …, 2000 - journals.lww.com
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for Journal of Occupational and Environmental Medicine. Enter your Email address:
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CM Engel… - Journal of Money, Credit and Banking, 1985 - JSTOR
Page 1. CHARLES M. ENGEL ROBERT P. FLOOD Exchange Rate Dynamics, Sticky Prices and
the Current Account 1. INTRODUCTION RATIONAL EXPECTATIONS EXCHANGE RATE MODELS
have been of two principal types flexible price models and sticky price models. ...
C Engel, JA Frankel, KA Froot… - Journal of Empirical …, 1995 - Elsevier
We test the mean-variance efficiency (MVE) hypothesis using a method that allows
conditional expected returns to vary in relatively unrestricted ways. The method takes
advantage of the predictability of conditional variances. The data estimate reasonably the ...
CM Engel - 1998 - nber.org
NATIONAL BUREAU OF ECONOMIC RESEARCH. NATIONAL BUREAU OF
ECONOMIC RESEARCH. HOME PAGE. Exchange Rates and Prices. Charles M.
Engel*. * Engel is a Research Associate in the NBER's International ...
CW Hoge, DT Orman, RJ Robichaux… - Military …, 2002 - ukpmc.ac.uk
UK PubMed Central (UKPMC) is an archive of life sciences journal literature.
C Engel… - 1986 - nber.org
We investigate the effects of higher tariffs on the current account. Tariffs may increase or
decrease investment depending on the capital intensity of the sector protected. We find that
ther esponse of saving to tariffs issensitive to the modelling of saving behavior. In a model ...
CM Engel… - Oxford Economic Papers, 1993 - JSTOR
Page 1. Oxford Economie Papers 45 (1993), 403-421 TESTS OF MEAN-VARIANCE
EFFICIENCY OF INTERNATIONAL EQUITY MARKETS By CHARLES M. ENGEL*
and ANTHONY P. RODRIGUES! 1. Introduction The mean ...
KC Hyams, DH Barrett, D Duque, CC Engel Jr… - Military …, 2002 - ukpmc.ac.uk
UK PubMed Central (UKPMC) is an archive of life sciences journal literature.
CM Engel - 1994 - nber.org
Page 1. This PDF is a selection from an out-of-print volume from the National Bureau of Economic
Research Volume Title: The Internationalization of Equity Markets Volume Author/Editor: Jeffrey
A. Frankel, editor Volume Publisher: University of Chicago Press ...
HK Kang, B Li, CM Mahan, SA Eisen… - Journal of Occupational …, 2009 - journals.lww.com
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for Journal of Occupational and Environmental Medicine. Enter your Email address:
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[CITATION] Imperatives in medical education: the Newcastle approach
RL Henry, K Byrne, CE Engel… - 1997 - Faculty of Medicine and Health …
C Engel - International Economic Review, 1992 - JSTOR
The forward exchange rate may include a liquidity premium as well as a risk premium. The
nature of these premiums is investigated in a general equilibrium model. The more obvious
point the paper makes is that the forward rate will be affected by the liquidity of financial ...
RD Richardson, CC Engel Jr… - Psychosomatic …, 2002 - Am Psychosomatic Soc
Psychosomatic Medicine. Skip to main page content. ...
L Barnsley, R Cameron, CE Engel… - … and Learning in …, 1994 - Taylor & Francis
Page 1. Teaching and Learning in Medicine 1994, Vol. 6, No. 3, 179-184 Copyright
1994 by Lawrence Erlbaum Associates, Inc. Ratings of Performance of Graduates
from Traditional and Nontraditional Medical Schools Les ...
[CITATION] West,(2006)'Taylor Rules and the Deutschmark-Dollar Real Exchange Rate,'
C Engel… - Journal of Money, Credit, and Banking
CW Hoge,
SC Messer, CC Engel… - Military Medicine; …, 2003 - psycnet.apa.org
APA PsycNET Our Apologies! - The following features are not available with your
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RD Richardson, CC Engel Jr, M McFall… - Archives of internal …, 2001 - Am Med Assoc
Archives of Internal Medicine, a bi-monthly professional medical journal
published by the American Medical Association, publishes original
peer-reviewed research articles on internal medicine topics.
C Engel - Research Working Paper, 1995 - ideas.repec.org
Forward exchange rate unbiasedness is rejected in tests from the current floating exchange
rate era. This paper surveys advances in this area since the publication of Hodrick's (1987)
survey. It documents that the change in the future exchange rate is generally negatively ...
MB Devereux… - NBER International Seminar on …, 2009 - nber.org
Between the last day of March 2002, and the last day of December 2004, the price of a
barrel of crude oil rose from $26.31 to $43.45, a 65.1 percent increase. This represents a
55.1 percent real price increase, relative to the US consumer price index (CPI). Over the ...
[CITATION] Euro's price dispersion
C Engel… - Economic Policy July, 2004
C Engel - Journal of international money and finance, 1989 - Elsevier
Abstract It is demonstrated that the Calvo and Rodriguez (1977) results hold up in a utility
maximizing model, contrary to the claim of Liviatan (1981). It is argued that Liviatan's
conclusions are based on a mistaken assumption. Having rescued Calvo-Rodriguez from ...
CE Engel, GI Feletti… - Assessment in Higher …, 1980 - Taylor & Francis
Page 1. - 279 - Assessment in Higher Education Vol. 5 No. 3 September 1980 pp.279-293.
ASSESSMENT OF MEDICAL STUDENTS IN A NEW CURRICULUM Charles E. Engel, Grahame
I. Feletti and Stephen R. Leeder -University of Newcastle, New South Wales ABSTRACT ...
C Engel - Thursday 6 August 2009, 2010 - papers.ssrn.com
A debate has continued over many years on the desirable degree of foreign exchange rate
flexibility. One side of the debate has sometimes made the case that the exchange rate
should be freely determined by market forces, independently of any foreign exchange ...
C Engel… - 1990 - ssc.wisc.edu
The foreign exchange risk premium in a cash-in-advance model is investigated. Some
weaknesses of the detinition of the risk premium generally used are discussed. It is shown
that the primary ultimate source of foreign exchange risk is the covariance of monetary ...
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