Bénassy-Quéré, Agnès; Lahrèche-Révil, Amina; … - In: Journal of the Japanese and International Economies 25 (2011) 2, pp. 12-32
This paper proposes a systematic analysis of the problem of world consistency when deriving equilibrium exchange rates. World inconsistency can arise for two reasons. First, real effective misalignments of currencies out of the considered sample are implicitly assumed to be the mirror image of...