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Exchange Rates

The research on exchange rates studies the following type of questions: 

  • What are the optimal exchange rate regimes in a financially integrated environment? 
  • To what extent can exchange rates float in developing countries? 
  • How do current accounts respond to shocks, and what does this imply for the sustainability of countries’ external liabilities?

Resource persons

Publications and Working Papers

Journal articles, book chapters, and other publications
This page lists recent scholarly publications by staff working in the area of Macroeconomics and Growth.  Publications are organized by topic and appear in reverse chronological order.

Policy Research Working Papers 

For more policy research working papers from the World Bank's institutional archives, search here using author’s last name, title or working paper number (“wpsxxxx”).

WPS4636Real exchange rates, saving and growth : is there a link ?Montiel, Peter J.; Serven, Luis2008/05
WPS3497What does regional trade in South Asia reveal about future trade integration? Some empirical evidencePitigala, Nihal2005/02
WPS3322Tango with the Gringo: the hard peg and real misalignment in ArgentinaAlberola, Enrique; Lopez, Humberto; Serven, Luis2004/06
WPS2980Living and dying with hard pegs : the rise and fall of Argentina's currency boardDe la Torre, Augusto; Levy Yeyati, Eduardo; Schmukler, Sergio L.2003/03
WPS2903Financial globalization : unequal blessingsDe la Torre, Augusto; Levy Yeyati, Eduardo; Schmukler, Sergio L.2002/10
WPS2823Real exchange rate uncertainty and private investment in developing countriesServen, Luis2002/04
WPS2815Pricing currency risk : facts and puzzles from currency boardsSchmukler, Sergio L.; Serven, Luis2002/03
WPS2424Global transmission of interest rates : monetary independence and the currency regimeFrankel, Jeffrey; Schmukler, Sergio; Serven, Luis2000/08
WPS2397Verifying exchange rate regimesServen, Luis; Frankel, Jeffrey; Fajnzylber, Eduardo; Schmukler, Sergio2000/07
WPS1298Capital goods imports, the real exchange rate, and the current accountServen, Luis1994/05
WPS562Anticipated real exchange-rate changes and the dynamics of investmentServen, Luis1990/12




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