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RBA Glossary definition for exchange rates

exchange rates – The price of one currency expressed in terms of another currency. Any exchange rate can be quoted two ways, e.g. Australian dollars per US dollar (USD/AUD) or US dollars per Australian dollar (AUD/USD). The convention for the Australian dollar is that it is quoted as the foreign currency price of the Australian dollar. This is sometimes referred to as the 'Indirect' method of quoting.

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Real Exchange Rates and the Globalisation of Financial Markets

1 Mar 1992 RDP 9203
Adrian Blundell-Wignall and Frank Browne
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1992/9203.html

Real Exchange Rates and the Globalisation Process

1 Mar 1992 RDP 9203
Adrian Blundell-Wignall and Frank Browne
Meese and Rogoff (1988), in following up their earlier paper on the out-of-sample forecasting properties of standard exchange rate models, investigated the associations between real exchange rates and real ... In contrast to other studies then, three of
https://www.rba.gov.au/publications/rdp/1992/9203/real-exchange-rates-and-the-globalisation-process.html

Real Exchange Rates and the Globalisation of Financial Markets

1 Mar 1992 RDP 9203
Adrian Blundell-Wignall and Frank Browne
Research Discussion Paper – RDP 9203 Real Exchange Rates and the Globalisation of Financial Markets.
https://www.rba.gov.au/publications/rdp/1992/9203/

Bibliography

1 Mar 1992 RDP 9203
Adrian Blundell-Wignall and Frank Browne
Brunner, K. and A.H. Meltzer, North Holland. Mussa, M. (1986), “Nominal Exchange Rate Regimes and the Behaviour of Real Exchange Rates: Evidence and Implications”, in Brunner, Karl and Allan Meltzer ... Obstfeld, M. (1983), “Exchange Rates,
https://www.rba.gov.au/publications/rdp/1992/9203/bibliography.html

Charts

1 Mar 1992 RDP 9203
Adrian Blundell-Wignall and Frank Browne
RDP 9203: Real Exchange Rates and the Globalisation of Financial Markets Charts. ... Download the Paper 670. KB. Chart 1. Unexplained Real Exchange Rate Movements About Equilibrium: the Cointegrating Residuals.
https://www.rba.gov.au/publications/rdp/1992/9203/charts.html

Introduction

1 Mar 1992 RDP 9203
Adrian Blundell-Wignall and Frank Browne
Structural equations cannot outperform the random walk model, which states that exchange rate changes are unforecastable. ... The real exchange rate and the rate of interest adjust to ensure that this is so.
https://www.rba.gov.au/publications/rdp/1992/9203/introduction.html

Data Appendix

1 Mar 1992 RDP 9203
Adrian Blundell-Wignall and Frank Browne
RDP 9203: Real Exchange Rates and the Globalisation of Financial Markets Data Appendix. ... Real exchange rates refer to the nominal bilateral spot rate between the two countries deflated by the ratio of their respective GDP deflators.
https://www.rba.gov.au/publications/rdp/1992/9203/data-appendix.html

Concluding Remarks

1 Mar 1992 RDP 9203
Adrian Blundell-Wignall and Frank Browne
Download the Paper 670. KB. An important puzzle about real exchange rates in the post-Bretton Woods era concerns their non-stationarity. ... These variables are shown to be cointegrated during the floating exchange rate period in three out of the four
https://www.rba.gov.au/publications/rdp/1992/9203/concluding-remarks.html

Tables

1 Mar 1992 RDP 9203
Adrian Blundell-Wignall and Frank Browne
Real Exchange Rates. Real Long-Term Interest Differential. Cumulated Current Balances. Yen/$. ... Table 2: Cointegration Tests For Bilateral Real Exchange Rates. (Sample Period: 1974Q1 to 1990Q4).
https://www.rba.gov.au/publications/rdp/1992/9203/tables.html

Annex: Real Interest Parity

1 Mar 1992 RDP 9203
Adrian Blundell-Wignall and Frank Browne
RDP 9203: Real Exchange Rates and the Globalisation of Financial Markets Annex: Real Interest Parity. ... t. and that the fitted values which represent ex ante real rates will be reliable.
https://www.rba.gov.au/publications/rdp/1992/9203/annex-real-interest-parity.html