Ouyang, Alice Y.; Rajan, Ramkishen S. - In: Journal of International Money and Finance 32 (2013) C, pp. 844-855
The real exchange rate is one of the most important price variables in macroeconomics as changes in it have implications for both external competitiveness as well as internal sectoral resource allocation. This paper decomposes real exchange rate volatility into its two components for a panel of...