This paper develops a new approach for exploring the effectiveness of foreign ... focusing on real exchange cycles. Using band spectrum regression methods, it examines the role of macroeconomic ...

develops a model of foreign exchange markets, and presents the efficiency costs imposed by quasi-fiscal operation under the current exchange rate regime. The results of our model-based analyses ...

The Reserve Bank of Zimbabwe (RBZ)'s adoption of a market-determined exchange rate system has ushered in a new era of ...