Identifying Exchange Rate Common Factors
NBER Working Paper No. 23726
---- Acknowledgments ----
Some of the work was performed while Mark was a Visiting Fellow at the HKIMR (Hong Kong Institute for Monetary Research) and the Federal Reserve Bank of St. Louis. Research support provided by these institutions is gratefully acknowledged. This is a revision of a paper originally circulated in March 2012 under the title ‘Exchange Rates as Exchange Rate Common Factors.’ We have benefitted from comments by seminar participants at Michigan State University and the Bank of Canada. Thoughtful comments and suggestions from two anonymous referees helped us to improve the paper. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.