See Jacques J. Polak, “Fifty Years of Exchange Rate Research and Policy at the International Monetary Fund,” IMF Staff Papers, Vol. 42, No. 4, pp. 734–62, 1995; See also Jeromin Zettelmeyer, “Exchange Rate Regimes in Developing Countries and Emerging Markets,” IMF Research Bulletin, Vol. 2 (March), 2001.
Paul Masson, Peter Isard, and Hamid Faruqee, “A Macroeconomic Balance Framework for Estimating Equilibrium Exchange Rates,” in Equilibrium Exchange Rates, Ronald MacDonald and Jerome Stein, eds. (Boston: Kluwer Academic Press, 1999), pp. 103–33; Peter Isard and Hamid Faruqee, eds., Exchange Rate Assessment: Extensions of the Macrobalance Approach, IMF Occasional Paper No. 167, 1998; Peter B. Clark, Leonardo Bartolini, Tamim Bayoumi, and Steven Symansky, Exchange Rates and Economic Fundamentals: A Framework for Analysis, IMF Occasional Paper No. 115, 1994.
Peter Isard, Hamid Faruqee, G. Russell Kincaid, and Martin Fetherston, Methodology for Current Account and Exchange Rate Assessments, IMF Occasional Paper No. 209, 2001.
Menzie Chinn and Eswar Prasad, “Medium-Term Determinants of Current Accounts in Industrial and Developing Countries: An Empirical Exploration,” Journal of International Economics (forthcoming).
Richard Meese and Kenneth Rogoff, “Empirical Exchange Rate Models of the Seventies: Do They Fit Out of Sample?” Journal of International Economics, Vol. 14 (February), pp. 3–24, 1983.
Kenneth Rogoff, “Monetary Models of Dollar/Yen/Euro Nominal Exchange Rates: Dead or Undead?” Economic Journal, Vol. 109 (November), pp. F655–F659, 1999; Barry Johnston and Yan Sun, “Some Evidence on Exchange Rate Determination in Major Industrial Countries,” IMF Working Paper 97/98, 1997.
Jeremy Berkowitz and Lorenzo Giorgianni, “Long-Horizon Exchange Rate Predictability” Review of Economics and Statistics, Vol. 83 (February), 2001.
Menzie Chinn and Guy Meredith, “Testing Uncovered Interest Rate Parity at Short and Long Horizons” (unpublished; Washington: IMF), 2001a; idem, “Long Horizon Uncovered Interest Rate Parity,” NBER Working Paper No. 6797, 2001b; and Robert P. Flood and Andrew K. Rose, “Uncovered Interest Parity in Crisis: The Interest Rate Defense in the 1990s,” IMF Staff Papers (forthcoming).
Ronald MacDonald and Jun Nagayasu, “The Long-Run Relationship Between Real Exchange Rates and Real Interest Rate Differentials: A Panel Study,” IMF Staff Papers, Vol. 47, No. 1, pp. 89–102, 2000.
Paul A. Cashin and C. John McDermott, “An Unbiased Appraisal of Purchasing Power Parity,” IMF Working Paper 01/196, 2001; Karl Habermeier and Mario Mesquita, “Long-Run Exchange Rate Dynamics: A Panel Data Study,” IMF Working Paper 99/50, 1999; Jun Nagayasu, “Does the Long-Run PPP Hypothesis Hold for Africa? Evidence from Panel Co-Integration Study,” IMF Working Paper 98/123, 1998.
Kenneth Rogoff, “The Purchasing Power Parity Puzzle,” Journal of Economic Literature, Vol.34, pp. 647–68, 1996.
Yu-chin Chen and Kenneth Rogoff, “Commodity Currencies and Empirical Exchange Rate Puzzles,” IMF Working Paper 02/27, 2002.
Tamim Bayoumi and Ronald MacDonald, “Deviations of Exchange Rates from Purchasing Power Parity: A Story Featuring Two Monetary Unions,” IMF Staff Papers, Vol. 46, No. 1, pp. 89-104, 1999;
Bankim Chadha and Eswar Prasad, “Real Exchange Rates Fluctuations and the Business Cycle: Evidence from Japan,” IMF Staff Papers, Vol. 44, No. 3, 1997; Pierre-Richard Agenor, Alexander W. Hoffmaister; Carlos Laranjo Medeiros, “Cyclical Fluctuations in Brazil’s Real Exchange Rate: The Role of Domestic and External Factors,” IMF Working Paper 97/128, 1997.
Ronald MacDonald and Luca Ricci, “PPP and the Balassa Samuelson Effect: The Role of the Distribution Sector,” IMF Working Paper 01/38, 2001; idem, “Purchasing Power Parity and New Trade Theory,” IMF Working Paper 02/32, 2002; Mark De Broeck and Torsten Slok, “Interpreting Real Exchange Rate Movements in Transition Countries,” IMF Working Paper 01/56, 2001.
Hamid Faruqee, “Long-Run Determinants of the Real Exchange Rate: A Stock-Flow Perspective,” IMF Staff Papers, Vol. 42, No. 1, pp. 80–107, 1995; Philip R. Lane and Gian Maria Milesi-Ferretti, “Long-Run Determinants of the Irish Real Exchange Rate,” Applied Economics, Vol.34 (March), pp. 549-53, 2002a.
Enrique Alberola, Susana Crevero, Humberto Lopez, and Angel Ubide, “Quo vadis, Euro?” European Journal of Finance (forthcoming).
Philip R. Lane and Gian Maria Milesi-Ferretti, “External Wealth, the Trade Balance, and the Real Exchange Rate,” European Economic Review, Vol. 46, No. 7, 2002b; “The External Wealth of Nations: Measures of Foreign Assets and Liabilities for Industrial and Developing Countries,” Journal of International Economics, Vol. 55 (December), pp. 263–94, 2001.
Peter Clark and Ronald MacDonald, “Exchange Rates and Economic Fundamentals: A Methodological Comparison of BEERs and FEERs,” Equilibrium Exchange Rates, Ronald MacDonald and Jerome Stein, eds., (London: Kluwer Academic Publishers, 1999); idem,” Filtering the BEER: A Permanent and Transitory Decomposition,” IMF Working Paper 00/144, 2000; Claudio Paiva “Competitiveness and the Equilibrium Exchange Rate in Costa Rica,” IMF Working Paper 01/2, 2001; Tarhan Feyzioglu, “Estimating the Equilibrium Real Exchange Rate: An Application to Finland,” IMF Working Paper 97/109, 1997.
Hamid Faruqee and Lee Redding, “Endogenous Liquidity Providers and Exchange Rate Dynamics” Canadian Journal of Economics, Vol. 32 (August), pp. 976-94, August 1999.
Lee Redding and Hamid Faruqee, “Asset Markets and Endogenous Liquidity,” Scottish Journal of Political Economy, Vol. 48 (May), pp. 196–209, 2001.
Leonardo Bartolini and Lorenzo Giorgianni, “Excess Volatility of Exchange Rates with Unobservable Fundamentals,” Review of International Economics, Vol. 9 (August), 2001.
Robert P. Flood and Andrew K. Rose, “Understanding Exchange Rate Volatility Without the Contrivance of Macroeconomics,” Economic Journal, Vol. 109 (November) 1999; Kenneth Rogoff,” Perspectives on Exchange Rate Volatility,” in International Capital Flows, ed. by Martin Feldstein (Chicago: University of Chicago Press and the NBER: 1999), pp. 441–53.
Robert P. Flood and Nancy P. Marion, “Self-Fulfilling Risk Predictions: An Application to Speculative Attacks,” Journal of International Economics, Vol. 50, No. 1, pp. 245–68, 2000.
Olivier Jeanne and Andrew Rose, “Noise Trading and Exchange Rate Regimes,” Quarterly Journal of Economics, Vol. 117 (May) 2002.