Real exchange rate: The search for an equilibrium

The first article summarizes the main topics discussed at the seminar on "T he Real Exchange Rate: The Search for an Equilibrium" organized by the Czec h Economic Society in November 1998. Participants focused on such questions as: What factors determine the long-term behavior of the exchange rate? Do es the concept of a real exchange rate make sense at all? And if so, which of the various estimates is more "real"? In the second article the author summarizes key points discussed at the Cze ch Economic Society's seminar on "The Theory and Empirics of Minimum Wage" held in December 1998, Participants suggested, first, that the current sett ing of the minimum wage in the Czech Republic has no economic meaning, and, second, that directed experiments would help us understand the potential e ffects of the minimum wage and other labor market policies on the Czech eco nomy.