Fixing exchange rates A virtual quest for fundamentals☆
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Part of this work was completed while Rose was visiting the IMF Research Department and the IIES.
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We have benefited from discussions with Allan Drazen, Charles Engel, Peter Garber, Lars Svensson, Shang-Jin Wei, and comments from Oliver Blanchard, Richard Meese, Jeff Shafer, seminar participants at ECARE, IIES, the NBER Summer Institute, and the Universities of Edinburgh and Maryland. We especially thank Joseph Gagnon for valuable comments and pointing out a mistake. This is a shortened version of a NBER and CEPR working paper with the same title.
Copyright © 1995 Published by Elsevier B.V.