Fundamental Determinants Of Exchange Rates - Softcover

Stein, Jerome L.

Softcover

ISBN 10: 0198293062 ISBN 13: 9780198293064

Verlag: Oxford University Press, U.S.A., 1998

Inhaltsangabe

"This book greatly enhances our understanding of the behavior of real exchange rates. It provides an elegant model based on a solid theoretical foundation that links real exchange rates to their fundamental economic determinants and takes proper account of stock and flow considerations. The authors provide a masterful account of how changes in productivity and thrift affect the real exchange rate, and show that the long-run impact depends crucially on whether the change reflects the former fundamental (investment) or the latter (consumption). The empirical implementation uses state-of-the-art cointegration and error correction methodologies that are eminently well suited to capture the short-run adjustment of the real exchange rate to its medium- to long-run equilibrium value. The empirical results are extremely encouraging, as the economic fundamentals identified by the authors can explain a substantial part of the movement in the real exchange rate of a number of countries."-Peter Clark, International Monetary Fund

Details zur Ausgabe

• Verlag: Oxford University Press, U.S.A.
• Erscheinungsdatum: 1998
• Sprache: Englisch
• ISBN 10: 0198293062
• ISBN 13: 9780198293064
• Einband: Taschenbuch
• Anzahl der Seiten: 272
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: Penguin Random House Ireland Limited; productsafety@penguin.co.uk; ; Morrison Chambers, 32 Nassau Street; Dublin; Irland