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Real Exchange Rate, Monetary Policy and Employment

Author

Listed:
  • Roberto Frenkel
  • Lance Taylor

Abstract

The exchange rate affects the economy through many channels and, consequently, has diverse macroeconomic and development impacts. Five are analysed in this paper: resource allocation, economic development, finance, external balance and inflation. The use of the exchange rate as a developmental tool in conjunction with its other uses (often in coordination with monetary policy) is at the focus of the discussion.

Suggested Citation

  • Roberto Frenkel & Lance Taylor, 2006. "Real Exchange Rate, Monetary Policy and Employment," Working Papers 19, United Nations, Department of Economics and Social Affairs.
    • Handle: RePEc:une:wpaper:19
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    File URL: http://www.un.org/esa/desa/papers/2006/wp19_2006.pdf
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    References listed on IDEAS

    as
    1. Ocampo, Jose Antonio & Taylor, Lance, 1998. "Trade Liberalisation in Developing Economies: Modest Benefits but Problems with Productivity Growth, Macro Prices, and Income Distribution," Economic Journal, Royal Economic Society, vol. 108(450), pages 1523-1546, September.
    2. Codrina Rada & Lance Taylor, 2004. "Empty Sources of Growth Accounting, and Empirical Replacements à la Kaldor with Some Beef," Economia, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 5(3), pages 45-74.
    3. Lance Taylor, 2004. "Exchange rate indeterminacy in portfolio balance, Mundell--Fleming and uncovered interest rate parity models," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 28(2), pages 205-227, March.
    4. Codrina Rada, 2007. "A growth model for a two-sector economy with endogenous productivity," Working Papers 44, United Nations, Department of Economics and Social Affairs.
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    More about this item

    Keywords

    exchange rate; development policy;

    JEL classification:

    • F3 - International Economics - - International Finance
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy

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