The Economics of Exchange Rates: Selected StudiesJacob A. Frenkel, Harry Gordon Johnson |
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Common terms and phrases
adjustment analysis arbitrage asset market assumed Autocorrelations of residuals balance of payments Bilson coefficients commodity covered interest arbitrage demand for money depreciation devaluation domestic money domestic price Dornbusch effect efficient elasticity empirical equation estimates exchange rate changes exchange-rate exogenous exports flexible exchange rates forecast errors foreign exchange market foreign price foreign reserves forward exchange rate forward rate Frenkel future spot rate Germany horizon hyperinflation hypothesis increase interest rate International Levich market equilibrium monetary approach monetary authority monetary policy money demand money market money supply Mussa nontraded parameter permanent income price index price level price of traded profit purchasing power parity purchasing-power parity rate of change rate of growth rate of inflation ratio rational expectations real balances real income regression relative price risk premium short run speculative spot exchange rate standard error statistic Table theory U.S. dollar zero