One of the most challenging problems in developing countries such as Ghana is exchange rate management, that is, 'getting the exchange rate right' especially in the context of exchange rate misalignment. The major research and policy question is what constitutes the equilibrium real exchange...

The focus of this paper is on how important the definitions and measurement of the concepts of real exchange rates are in analytical and empirical work. This paper seeks to identify, define and review measures of the real exchange rate for Ghana. We discuss methodological issues surrounding the...