Future exchange rates and Siegel's paradox

Nonlinearity In Exchange Rates and Forecasting

Exchange rates.

THE UNIVERSITY of Pennsylvania health system was in London recently, recruiting nurses. Its advertisement stated that its recruiters were experienced in hiring nurses from the UK, Ireland and the Philippines, and an 'on the spot job offer is a possibility'. This one advert neatly captures the dynamics of the new international nursing labour market. The advert was placed by an international recr...

Tissue-specific cancer paradox and mutation rates

There are certain genes that have ubiquitous expression patterns in an individual’s cells; yet, a paradox exists whereby mutations (germline or somatic) in such genes are only strongly associated with cancers of specific tissues. As these genes are ubiquitously expressed in the body’s cells and thereby have functions in -potentiallyall tissue types, then surely their resulting defects would man...

On exchange rates and efficiency*

This paper analyzes an exchange economy in which several assets serve as stores of value and where agents have completely heterogeneous preferences and endowments. It describes the set of perfect foresight equilibria in which all assets have positive prices. There are international policies with determinate exchange rates if the world economy satisfies a strong efficiency criterion. Also, the c...

International Prices and Exchange Rates

We survey the recent empirical and theoretical developments in the literature on the relation between prices and exchange rates. After updating some of the major findings in the empirical literature we present a simple framework to interpret this evidence. We review theoretical models that generate insensitivity of prices to exchange rate changes through variable markups, both under flexible pr...