The Dollar and real interest rates

Abstract

Pennsylvania. This paper was commissioned and the work completed before Clarida assumed his position as Senior Staff Economist at the CEA. The views expressed in this paper should not be inter-preted as reflecting the views of members of the Council of Economic Advisers or their staff. We would like to thank John Montgomery, Robin Lumsdaine, and Pradeed Srivastava for their able research assistance, and John Huizinga, Rick Mishkin and members of the MIT macro lunch group for helpful comments. The support of th