The exchange rate is the rate at which one currency trades against another on the foreign exchange market if the present exchange rate is gbp1142 this means that to go to america you would get 142 for gbp100 similarly if an american came to the uk he would have to pay 142 to get gbp100 although in real life the dealer would make a profit. The economics of exchange rates is the first essential volume on this subject in a decade richard clarida columbia university nber and cepr this book is a breath of fresh air. In the last few decades exchange rate economics has seen a number of developments with substantial contributions to both the theory and empirics of exchange rate determination. 9 thoughts on the economics of exchange rates diogenes may 19 2020 at 1127 am some sycophant of his even manages to work chlorinated chicken into his response an infallible guide to the intellectual level of the writer henry crun may 19 2020 at 1139 am
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