Modeste, Nelson creator text MonaJA ISER 1993 monographic 14p. Tests the proposition that a devaluation increases the real exchange rate unless offset by strong growth either in money wages at home or in worker productivity abroad. Sketches a single model of real exchange determination and tests using data from 1974 to 1989. 3/7/00 M2LMGR 11.02.01 R3361