Recent studies, relying on traditional neoclassical exchange-rate models, suggest that the RMB is deviating from its "equilibrium value." However, economists warn that these conclusions are heavily ...

Was the recent decline in real interest rates driven by a diminishing natural real interest rate, or have we observed a long sequence of shocks that have pushed market rates below the equilibrium ...

This course gives a comprehensive overview of exchange rate analysis and policy. It explores key exchange rate concepts (real, nominal, bilateral, multilateral, spot, forward) and arbitrage conditions ...