A Brief History of Our Nation's Paper Money - In our society today, money's value is measured by what it can buy--its purchasing power--not by its material worth, but it hasn't always been so.
Publisher: Federal Reserve Bank of San Francisco Fedwest Gateway     Author: Karen Flamme   

A Case for Fixing Exchange Rates - The free market system of floating exchange rates established in the early 1970s was supposed to provide a mechanism for correcting trade imbalances and stabilizing economic activity.
Publisher: Federal Reserve Bank of Minneapolis     Author: Arthur J. Rolnick, Warren E. Weber   

A yen for change - Japan's central bankers want a weaker yen. That is easier said than done.
Publisher: The Economist     Author: The Economist   

Accounting for the Euro - The implications of monetary union for the Irish economy as a whole has been the subject of considerable media attention. Relatively little, however, has been written in relation to the implication for individual businesses.
Publisher: PricewaterhouseCoopers     Author: Oliver Holt   

Bouncing back? - There are signs that the euro’s tumbling days may be drawing to a close.
Publisher: The Economist     Author: The Economist   

Can Sticky Price Models Generate Volatile and Persistent Real Exchange Rates? - The central puzzle in international business cycles is that real exchange rates are volatile and persistent. The most popular story for real exchange rate fluctuations is that they are generated by monetary shocks interacting with sticky goods prices. We quantify this story and find that it can account for some of the observed properties of real exchange rates.
Publisher: Federal Reserve Bank of Minneapolis     Author: V. V. Chari, Patrick J. Kehoe, and Ellen R. McGrattan   

EMU, the euro and the European policy mix - One year ago most economic observers predicted that "fundamentals" were such that the euro was set to appreciate. In the event, the opposite has occurred. This has rekindled a debate on how well foreign exchange markets reflect fundamental determinants and led to calls for greater exchange rate stability, possibly through the introduction of formal exchange rate target zones.
Publisher: Organisation for Economic Co-operation and Development     Author: Jonathan Coppel, Martine Durand and Ignazio Visco   

Eurotrash? - There is no need to lose sleep over the slide in Europe’s new single currency.
Publisher: The Economist     Author: The Economist   

Money, Interest Rates, and Exchange Rates With Endogenously Segmented Asset Markets - This paper analyzes the effects of money injections on interest rates and exchange rates in a model in which agents must pay a Baumol-Tobin style fixed cost to exchange bonds and money.
Publisher: Federal Reserve Bank of Minneapolis     Author: Fernando Alvarez, Andrew Atkeson, and Patrick J. Kehoe   

One world, one money - A global currency is not a new idea, but it may soon get a new lease of life.
Publisher: The Economist     Author: The Economist