Introduction to 'Exchange Rates in Europe and Australasia: Fundamental Determinants, Adjustments and Policy Implications'
Jerome L. Stein
Brown University - Division of Applied Mathematics; CESifo (Center for Economic Studies and Ifo Institute for Economic Research)
G. C. Lim
Melbourne Institute of Applied Economic and Social Research
Australian Economic Papers, Vol. 41, pp. 329-341, 2002
The papers in this issue are concerned with the behaviour of exchange rates - their fundamental determinants, adjustment processes and policy implications. The authors combine theory with empirical evidence, test hypotheses as well as show the relevance of their analysis for policy. This Introduction addresses several questions. What are the contributions of the articles to the economics of exchange rates? Are they significant in increasing our understanding of the current issues and in addressing questions of policy? How can one explain the movements in the European and the Asian currencies? What can we expect to happen to the euro with the enlargement of the euro area? Do the papers provide frameworks to guide empirical research? In this Introduction, we highlight aspects of each paper that addresses these issues.
Number of Pages in PDF File: 13Accepted Paper Series
Date posted: January 13, 2003
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