Risk and Exchange Rates

  title={Risk and Exchange Rates},
  author={Maurice Obstfeld},
  • Maurice Obstfeld
  • Published 2001
∗Prepared for the conference in honor of Assaf Razin, Tel-Aviv University, March 2001. †Earlier drafts of this paper were presented in 1998 at Harvard, Wharton, MIT, Stanford, LSE, and at the 1998 National Bureau of Economic Research Summer Institute. Following our initial presentations of this paper, its approach has furnished the workhorse framework for an important subsequent literature that has made substantial advances. See, for example, Bacchetta and van Wincoop (2000), Devereux and Engel… CONTINUE READING
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