Macroeconomic Implications of Alternative Exchange-Rate Models

Abstract

In building the MACE model described in Helliwell, Boothe, and McRae (1982), and Helliwell et aL (1982), we have had the collaboration of Robert McRae and extensive financial support from the Social Sciences and Humanities Research Council of Canada. In revising the paper, we have made use of helpful coimnents from our discussant, Josef Vuchelen, as well as from other participants in the Leuven conference. The research reported here is part of the NBER's research program in International Studies.