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(785)
- News (125)
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- Faculty Publications (263)
Show Results For
- All HBS Web
(785)
- News (125)
- Research (615)
- Events (1)
- Multimedia (1)
- Faculty Publications (263)
- Article
Currency Unions, Product Introductions, and the Real Exchange Rate
By: Alberto Cavallo, Brent Neiman and Roberto Rigobon
We use a novel dataset of online prices of identical goods sold by four large global retailers in dozens of countries to study good-level real exchange rates and their aggregated behavior. First, in contrast to the prior literature, we demonstrate that the law of one... View Details
Keywords: Currency Union; Law Of One Price; International Prices; Global Firm; Currency Exchange Rate; Price; International Finance
Cavallo, Alberto, Brent Neiman, and Roberto Rigobon. "Currency Unions, Product Introductions, and the Real Exchange Rate." Quarterly Journal of Economics 129, no. 2 (May 2014): 529–595.
- May 1990
- Article
Chartists, Fundamentalists, and Trading in the Foreign Exchange Market
By: J. Frankel and K. A. Froot
Keywords: Currencies; Exchange Rates; International Macroeconomics; Monetary Policy; Currency Controls; Fixed Exchange Rates; Floating Exchange Rates; Currency Bands; Currency Zones; Currency Areas; Rational Expectations; Asset Pricing
Frankel, J., and K. A. Froot. "Chartists, Fundamentalists, and Trading in the Foreign Exchange Market." American Economic Review 80, no. 2 (May 1990): 181–185. (Reprinted in New Developments in Exchange Rate Economics, edited by L. Sarno and M. Taylor. Edward Elgar, 2001; and in Speculation and Financial Markets, edited by M. Taylor and L. Gallagher. Edward Elgar, 2001.)
- January 1982
- Background Note
Exchange Rate Determination and Foreign Exchange Equilibrium Conditions, Study Note
By: Thomas R. Piper
Piper, Thomas R. "Exchange Rate Determination and Foreign Exchange Equilibrium Conditions, Study Note." Harvard Business School Background Note 282-052, January 1982.
- November 2019
- Case
Floating the Exchange Rate: In Pursuit of the Chinese Dream
By: Laura Alfaro and Sarah Jeong
In the decades following 2005, China faced significant financial challenges. Inflation spiraled upwards and China’s economy stagnated in the wake of the Global Financial Crisis. The country’s leaders took an interventionist approach to weather the storm, controlling... View Details
Keywords: Exchange Rate; Inflation; Debt; Currency Exchange Rate; Inflation and Deflation; Borrowing and Debt; China
Alfaro, Laura, and Sarah Jeong. "Floating the Exchange Rate: In Pursuit of the Chinese Dream." Harvard Business School Case 320-039, November 2019.
- Working Paper Summaries
A Quantity-Driven Theory of Term Premia and Exchange Rates
- September 1987
- Article
Short-term and Long-term Expectations of the Yen/Dollar Exchange Rate: Evidence from Survey Data
By: J. Frankel and K. A. Froot
Keywords: Currencies; Exchange Rates; Asset Pricing; International Macroeconomics; Monetary Policy; Currency Controls; Fixed Exchange Rates; Floating Exchange Rates; Currency Bands; Currency Zones; Currency Areas; Rational Expectations; Japan; United States
Frankel, J., and K. A. Froot. "Short-term and Long-term Expectations of the Yen/Dollar Exchange Rate: Evidence from Survey Data." Journal of the Japanese and International Economies 1 (September 1987): 249–274. (Revised from NBER Working Paper No. 2216, April 1987.)
- September 1989
- Article
Exchange Rate Pass-Through When Market Share Matters
By: K. A. Froot and P. Klemperer
Froot, K. A., and P. Klemperer. "Exchange Rate Pass-Through When Market Share Matters." American Economic Review 79, no. 4 (September 1989): 637–654. (Revised from NBER Working Paper No. 2542, October 1989.)
- Article
The Exchange Rate Exposure of a Global Competitor
By: Timothy A. Luehrman
Luehrman, Timothy A. "The Exchange Rate Exposure of a Global Competitor." Journal of International Business Studies 21, no. 2 (Second Quarter 1990): 225–42.
- April 2023
- Article
The Real Exchange Rate, Innovation and Productivity
By: Laura Alfaro, Alejandro Cuñat, Harald Fadinger and Yanping Liu
We evaluate manufacturing firms' responses to changes in the real exchange rate (RER) using detailed firm-level data for a large set of countries for the period 2001-2010. We uncover the following stylized facts about regional variation of manufacturing firms'... View Details
Keywords: Real Exchange Rate; Firm Level Data; Innovation; Productivity; Exporting; Importing; Credit Constraints; Currency Exchange Rate; Innovation and Invention; Performance Productivity
Alfaro, Laura, Alejandro Cuñat, Harald Fadinger, and Yanping Liu. "The Real Exchange Rate, Innovation and Productivity." Journal of the European Economic Association 21, no. 2 (April 2023): 637–689.
- 1993
- Article
Interest Rate Parity and the Exchange Risk Premium
By: E. S. Mayfield and R. Murphy
Mayfield, E. S., and R. Murphy. "Interest Rate Parity and the Exchange Risk Premium." Economics Letters (1993).
- 1988
- Chapter
Explaining the Demand for Dollars: International Rates of Return, and the Expectations of Chartists and Fundamentalists
By: Jeffrey A. Frankel and Kenneth A. Froot
Keywords: Currencies; Exchange Rates; International Macroeconomics; Monetary Policy; Currency Controls; Fixed Exchange Rates; Floating Exchange Rates; Currency Bands; Currency Zones; Currency Areas; Rational Expectations; Currency Exchange Rate; Asset Pricing; Macroeconomics
Frankel, Jeffrey A., and Kenneth A. Froot. "Explaining the Demand for Dollars: International Rates of Return, and the Expectations of Chartists and Fundamentalists." Chap. 2 in Macroeconomics, Agriculture, and Exchange Rates, edited by R. Chambers and P. Paarlberg, 25–80. Boulder, CO: Westview Press, 1988.
- 1995
- Chapter
Perspectives on PPP and Long-Run Real Exchange Rates
By: K. Froot and K. Rogoff
Froot, K., and K. Rogoff. "Perspectives on PPP and Long-Run Real Exchange Rates." Chap. 32 in Handbook of International Economics, Volume 3, edited by G. M. Grossman and K. Rogoff, 1647–1688. Handbooks in Economics. Elsevier Science, 1995. (Revised from Harvard Business School Working Paper No. 95-038.)
- 2020
- Working Paper
The Real Exchange Rate, Innovation and Productivity
By: Laura Alfaro, Alejandro Cuñat, Harald Fadinger and Yanping Liu
We evaluate manufacturing firms' responses to changes in the real exchange rate (RER) using detailed firm-level data for a large set of countries for the period 2001–2010. We uncover the following stylized facts about regional variation of manufacturing firms'... View Details
Keywords: Real Exchange Rate; Firm Level Data; Innovation; Productivity; Exporting; Importing; Credit Constraints; Currency Exchange Rate; Innovation and Invention; Performance Productivity
Alfaro, Laura, Alejandro Cuñat, Harald Fadinger, and Yanping Liu. "The Real Exchange Rate, Innovation and Productivity." Harvard Business School Working Paper, No. 18-044, November 2017. (Revised April 2020.)
- Article
Exchange Rates Changes and the Distribution of Industry Value
By: Timothy A. Luehrman
Luehrman, Timothy A. "Exchange Rates Changes and the Distribution of Industry Value." Journal of International Business Studies 22, no. 4 (Fourth Quarter 1991): 619–49.
- July 1992 (Revised May 1993)
- Teaching Note
Note on Operating Exposure to Exchange Rate Changes (TN)
By: Timothy A. Luehrman
Teaching Note for (9-288-018). View Details
- June 2005
- Article
Inflation, Openness, and Exchange Rate Regimes: The Quest for Short-Term Commitment
By: Laura Alfaro
This paper further tests Romer's (1993) extension of Kydland and Prescott's (1977) predictions for dynamic-inconsistency problems in open economies. In a panel data set of developed and developing countries from 1973 to 1998, I find that openness does not play a role... View Details
Keywords: Forecasting and Prediction; Economy; Currency Exchange Rate; Developing Countries and Economies; Inflation and Deflation
Alfaro, Laura. "Inflation, Openness, and Exchange Rate Regimes: The Quest for Short-Term Commitment." Journal of Development Economics 77, no. 1 (June 2005): 229–249.
- winter 1989
- Article
Are We Feeling More Competitive Yet? The Exchange Rate Gambit
By: Timothy A. Luehrman and W. Carl Kester
Luehrman, Timothy A., and W. Carl Kester. "Are We Feeling More Competitive Yet? The Exchange Rate Gambit." MIT Sloan Management Review 30, no. 2 (winter 1989): 19–28.
- April 1989
- Article
Exchange Rate Dynamics with Sticky Prices: The Deutsche Mark, 1974-1982
By: J. J. Rotemberg and Alberto Giovannini
Rotemberg, J. J., and Alberto Giovannini. "Exchange Rate Dynamics with Sticky Prices: The Deutsche Mark, 1974-1982." Journal of Business & Economic Statistics 7, no. 2 (April 1989): 169–178.
- October 2005
- Teaching Note
Exchange Rate Policy at the Monetary Authority of Singapore (TN)
By: Mihir A. Desai and Kathleen Luchs
- 1992
- Other Unpublished Work
Government Consumption and the Real Exchange Rate: The Empirical Evidence
By: K. A. Froot and K. Rogoff