I mention this paper because it's central to his work, but as I mentioned to Mrs. Institutional Economist last night, exchange rates and their determination is probably one of the most technical, least-useful, and unbelievably mind-numbingly boring facets of economics. Just the mention of any aspect of exchange rates causes, in the words of PJ O'Rourke, MEGO: my eyes glaze over.
This doesn't mean that exchange rates aren't important, though. As the ever-astute Mrs. Institutional Economist also noted, movements in the ruble/USD exchange rates have been so terrible of late, that I am actually losing $36,000 off my promised, nominal US salary. If someone could publish a paper to make my employer care about this loss, then THAT would be a contribution to the literature.