Equilibrium Exchange Rates
Ronald MacDonald, Jerome L. Stein
Springer Science & Business Media, Jul 31, 1999 - Business & Economics - 351 pages
The answers to these questions are important to academic theorists, policymakers, international bankers and investment fund managers. This volume encompasses all of the competing views of equilibrium exchange rate determination, from PPP, through other reduced form models, to the macroeconomic balance approach.
This volume is essentially empirical: what do we know about exchange rates? The different econometric and theoretical approaches taken by the various authors in this volume lead to mutually consistent conclusions. This consistency gives us confidence that significant progress has been made in understanding what are the fundamental determinants of exchange rates and what are the forces operating to bring them back in line with the fundamentals.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Introduction Equilibrium Exchange Rates
What Do We Really Know about Real Exchange Rates?
The Evolution of the Real Value of the US Dollar Relative to the G7 Currencies
A Macroeconomic Balance Framework for Estimating Equilibrium Exchange Rates
Feers A Sensitivity Analysis
Productivity Government Spending and the Real Exchange Rate Evidence for OECD Countries
Fundamentals of the Real DollarPound Rate 18711994
Nominal Equilibrium Exchange Rate Models A Panel Perspective
What Determines Real Exchange Rates The Long and Short of It
Exchange Rates and Economic Fundamentals A Methodological Comparison of Beers and Feers
Japanese Effective Exchange Rates and Determinants A LongRun Perspective
Other editions - View all
adjustment analysis assessment Balassa-Samuelson BEER bilateral calculated capital changes Chinn coefficients cointegrating vectors component consumption correctly signed countries current account denotes depreciation determinants dollar domestic dynamic econometric economic fundamentals effective exchange rate elasticities empirical equation equilibrium exchange rate equilibrium real exchange exchange rate models exports external balance factors Faruqee FEER fiscal forecast foreign assets foreign debt German German mark important income Japanese yen Johansen Levin and Lin lnternational Economics lnternational Monetary Fund long-run relationship longer run MacDonald mean reversion misalignment nominal exchange rate nontradables output gap paper positions productivity differentials Purchasing Power Parity random walk ratio real effective exchange real exchange rate real interest differential real interest rate real rate recent floating regression relative price Rogoff Root Tests sample short-run stationary Stein sticky price Table terms of trade tradables trend U.S. dollar unit root Unit Root Tests variables Wren-Lewis
All Book Search results »