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Abstract
The paper introduces an innovative graph for teaching bilateral exchange rates called currency offer curves. The currency quantities are on the axes, and the exchange rate is the ratio between them, ie, the slope of a ray from the origin. The paper uses the model to address two issues from the headlines (1) China's export led growth strategy, ie, its policy of undervaluing the yuan, (2) the current euro-zone fiscal crisis' effect on the pound-euro market.
About
Abstract
The paper introduces an innovative graph for teaching bilateral exchange rates called currency offer curves. The currency quantities are on the axes, and the exchange rate is the ratio between them, ie, the slope of a ray from the origin. The paper uses the model to address two issues from the headlines (1) China's export led growth strategy, ie, its policy of undervaluing the yuan, (2) the current euro-zone fiscal crisis' effect on the pound-euro market.