Exchange Rate Determinants and Economic Impacts

This workshop was sponsored by the Bank of Canada and the European Central Bank (ECB), and was hosted by the ECB in Frankfurt.

NOTE: The papers listed here are reproduced as submitted by their authors, and have not been edited or proofread by the Bank of Canada.

"Exchange Rate Fundamentals and Order Flow"

Martin D. D. Evans and Richard K. Lyons
Discussant: Michael Moore

"Can Information Heterogeneity Explain the Exchange Rate Determination Puzzle?"

Philippe Bacchetta and Eric van Wincoop
Discussant: Giancarlo Corsetti

"An Empirical Study of Portfolio-Balance and Information Effects of Order Flow on Exchange Rates"

Francis Breedon and Paolo Vitale
Discussant: Michael King

"International Order Flows: Explaining Equity and Exchange Rate Returns"

Peter Dunne, Harald Hau, and Michael Moore
Discussant: Philipp Hartmann

"Conventional and Unconventional Approaches to Exchange Rate Modeling and Assessment"

> Ron Alquist and Menzie D. Chinn
Discussant: Paul de Grauwe

"Exchange Rates and Fundamentals: Footloose or Evolving Relationship?"

Lucio Sarno and Giorgio Valente
Discussant: Luca Dedola

"Commodity Currencies, Global Imbalances and Multilateral Adjustment"

Jeannine Bailliu, Ali Dib, Takashi Kano, and Lawrence Schembri
Discussant: Farooq. Akram

"Sectoral Exchange Rate Pass-Through in the Euro Area"

Chiara Osbat and Martin Wagner
Discussant: Robert Vigfusson

"Distribution Margins, Imported Inputs, and the Insensitivity of the CPI to Exchange Rates"

Linda S. Goldberg and José Manuel Campa
Discussant: Jeannine Bailliu

"Expectations and Exchange Rate Policy"

The invited lecture was given by Charles Engel.
Michael Devereux and Charles Engel