This book provides a systematic treatment of the interaction between national price levels and exchange rates, and the formation of expectation regarding exchan

We document that the U.S. dollar exchange rate drives global trade prices and volumes. Using a newly constructed data set of bilateral price and volume indices

In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and

Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in