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Managing exchange rate misalignment and current account imbalances

Luca Dedola ()

Research Bulletin, 2011, vol. 13, 2-7

Abstract: Concerns about real exchange rate misalignment, current account imbalances and excessive fluctuations in capital flows are a recurrent theme in international policy discussions and have prompted calls to redirect macroeconomic policy towards correcting exchange rate volatility or unsustainable current account positions. This article looks at recent research on the emergence of misalignment and imbalances due to financial market imperfections and examines the related policy implications. JEL Classification: F32

Keywords: exchange rate misalignment; current account imbalances (search for similar items in EconPapers)
Date: 2011-06
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Handle: RePEc:ecb:ecbrbu:2011:0013:1