The paper defines the currency demand indicator. On its base, it derives a multilateral exchange rate network, finds its dynamically stationary position, and identifies the multilaterally equilibrium ...

Equilibrium is the state in which market supply and demand balance each other, and as a result prices become stable. What Is Equilibrium? Equilibrium is the state in which prices become stable ...

Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate Drawing on the existing literature, I estimate a long-run equilibrium real ...

The foreign exchange market is the most actively traded market in the world, with trillions of dollars in currencies changing hands each day. Foreign exchange markets exist in major cities around ...