Equilibrium Exchange Rate of the Ruble and the Problems of Optimum

#2. Agenda

The practice of manipulating the exchange rate to achieve the “unfair” competitive advantage in international trade has repeatedly led to waves (more properly to be termed wars) of devaluations in response

Terms of Trade And Long-Term Equilibrium Dynamics of the Real Exchange Rate

#7-8. Burning Ground

The reason for stable continuous movements of the equilibrium real exchange rate can be differences in growth rates of technological changes in commercial and non-trade sectors of the economy.