Series: IMF Working Papers
Author(s): Serhan Cevik , Richard Harris , and Fatih Yilmaz
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 20 March 2015
Keywords: Exchange rate volatility, exchange, exchange rate, volatility, exchange rates, trade, Time-Series Models, International Monetary Arrangements and Institutions,
Standard models-based exclusively on macro-financial variables-have made little progress in explaining the behavior of exchange rates. In this paper, we introduce a neglected set of 'soft power' factors capturing...