Exchange Rate Misalignment

Exchange Rate Misalignment : Concepts and Measurement for Developing Countries

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The 1994 devaluation of CFA francs in West Africa, the Mexican currency crisis in that same year, and the Asian crises that erupted in mid-1997 are reminders of the severe dislocations that can be caused by exchange rate misalignment. However a consensus on the importance of preventing exchange rate misalignment has not provided systematic guidance on definitions and measurement. Recent macroeconomic disruptions support the argument that growing financial integration
has increased the urgency of providing accurate measures of long-run equilibrium exchange rates. For its analytical depth and its practical techniques for measurement, Exchange Rate Misalignment is an invaluable resource for policymakers and foreign exchange specialists in both the public and
private sectors.
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Product details

  • Hardback | 632 pages
  • 163 x 243 x 46mm | 1,137g
  • New York, United States
  • English
  • New
  • tables
  • 019521126X
  • 9780195211269
  • 1,135,672

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Review quote

Reviewed in Moneta e Credito more than anything else, it is invaluable for promoting the debate on the appropriate levels of exchange rates and misalignments * Christopher Tsoukis, Journal of Development Studies * an invaluable compendium of the state of the debate on LRER and of RER misalighnments. It offers wide-ranging reviews of existing literature, concepts and techniques and is interesting in its eclectiscism of the most suitable concepts or estimation approaches for the questions at hand. * Christopher Tsoukis, Journal of Development Studies *
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