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.
Reviews
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 *
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 *
Reviewed in Moneta e Credito



Book Information
ISBN 9780195211269
Author Lawrence E. Hinkle
Format Hardback
Page Count 632
Imprint Oxford University Press Inc
Publisher Oxford University Press Inc
Weight(grams) 1134g
Dimensions(mm) 234mm * 157mm * 43mm