The founders of the Bretton Woods System sixty years ago were primarily concerned with orderly exchange rate adjustment in a world economy that was characterized by widespread restrictions on international capital mobility. In contrast, the rapid pace of financial globalization during recent...

We investigate the real effects of foreign exchange (FX) uncertainty on an important economic growth engine-technological innovation. In a sample consisting of 55 countries, we measure FX uncertainty using the unexpected FX volatility and then show that heightened FX uncertainty is associated...

This study examines the effects of geopolitical risk and global uncertainty on energy prices, conditioned by different exchange rate regimes, for 185 economies over the period 1980-2023. The central question is how uncertainty impacts energy prices and whether exchange rate flexibility mediates...

We characterize the relationship between ex post exchange rate depreciation and the interest differential for a set of countries that spans both developed and emerging market economies. Measured ex post uncovered interest differentials are then related to measures of trade and financial...

The dynamic linkage of stock price movements between major global and Korean stock exchanges are investigated by employing a monthly sample from January 1987 to October 2018. The Johansen test for cointegration indicates that a long-run equilibrium relationship between global and Korean stock...