Issues in the Assessment of the Exchange Rates of Industrial Countries
July 8, 1984
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In its surveillance activities, the Fund is frequently confronted with the difficult problem of how to identify exchange rate behavior that is unrelated to underlying economic and financial conditions and, consequently, should be viewed with concern from a national or international standpoint. This paper considers the various issues related to this problem as it pertains to industrial countries, both those that have independently floating exchange rates and those that operate under other exchange arrangements.
Subject: Balance of payments, Current account, Current account balance, Exchange rates, Financial services, Foreign exchange, Labor, Labor costs, Real effective exchange rates, Real interest rates
Keywords: Current account, Current account balance, current account position, Eastern Europe, exchange rate, Exchange rates, fund staff, Global, Labor costs, market, market participant, merit emphasis, OP, real interest rate differential, Real interest rates
Pages:
35
Volume:
1984
DOI:
Issue:
004
Series:
Occasional Paper No. 1984/004
Stock No:
S029EA0000000
ISBN:
9781557750761
ISSN:
0251-6365
