Research Discussion Paper – RDP 9203 Real Exchange Rates and the Globalisation of Financial Markets


The authors are grateful especially to Jeffrey Shafer for incisive comments, and also to Robert Ford, Jorgen Elmeskov and Philip Lowe. The views expressed are not necessarily shared by them, and nor by the respective employers of either author.


Economic Research Department Reserve Bank of Australia [*]

Organisation For Economic Co-operation and Development [**]