Arteta, Carlos; Kamin, Steven B.; Vitanza, Justin - Federal Reserve Board (Board of Governors of the … - 2009
's correlation with the dollar by developing some general empirical models of exchange rate correlations. Based on a study of 29 … currencies, we find that most of the cross-country variation in exchange rate correlations with the dollar and the euro can be … likely proxies for the role of economic integration in affecting exchange rate correlations. Second, and perhaps more …