The Fundamental Determinants Of The Real Exchange Rate Of The U S Dollar Relative To Other G 7 Currencies PDF Download
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| Author | : Mr.Jerome L. Stein |
| Publisher | : International Monetary Fund |
| Total Pages | : 46 |
| Release | : 1995-08-01 |
| Genre | : Business & Economics |
| ISBN | : 1451955146 |
Download The Fundamental Determinants of the Real Exchange Rate of the U. S. Dollar Relative to Other G-7 Currencies Book in PDF, ePub and Kindle
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
| Author | : Jerome L. Stein |
| Publisher | : |
| Total Pages | : 46 |
| Release | : 2006 |
| Genre | : |
| ISBN | : |
Download The Fundamental Determinants of the Real Exchange Rate of the U.S. Dollar Relative to Other G-7 Currencies Book in PDF, ePub and Kindle
This paper provides a consistent theoretical framework to explain the fundamental determinants of the evolution in the medium to longer run of the real effective exchange rate of the United States relative to the currencies of the other G-7 countries. The fundamental determinants are productivity and thrift in the United States and the other major industrial countries. The real rate generated by these fundamentals is referred to as the natural real exchange rate (NATREX). Then, using cointegrating and error correction analysis, the paper examines the explanatory power of the NATREX model to explain the evolution of the real exchange rate of the U.S. dollar during the floating exchange rate period.
| Author | : Jerome L. Stein |
| Publisher | : Oxford University Press |
| Total Pages | : 276 |
| Release | : 1997 |
| Genre | : Business & Economics |
| ISBN | : 9780198293064 |
Download Fundamental Determinants of Exchange Rates Book in PDF, ePub and Kindle
"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
| Author | : Jerome L. Stein |
| Publisher | : |
| Total Pages | : 30 |
| Release | : 1995 |
| Genre | : |
| ISBN | : |
Download The fundemental determinants of the real exchange rate of the U.S. dollar relative to the other G-7 currencies Book in PDF, ePub and Kindle
| Author | : Jerome L. Stein |
| Publisher | : |
| Total Pages | : |
| Release | : 1995 |
| Genre | : |
| ISBN | : |
Download The Fundamental Determinats of the Real Exchange Rate of the US Dollar Relative to Other G-7 Currencies Book in PDF, ePub and Kindle
| Author | : Mr.Ronald MacDonald |
| Publisher | : International Monetary Fund |
| Total Pages | : 54 |
| Release | : 1997-02-01 |
| Genre | : Business & Economics |
| ISBN | : 1451921675 |
Download What Determines Real Exchange Rates? The Long and Short of it Book in PDF, ePub and Kindle
This paper presents a reduced-form model of the real exchange rate. Using multilateral cointegration methods, the model is implemented for the real effective exchange rates of the dollar, the mark, and the yen, over the period 1974-1993. In contrast to much other research using real exchange rates, there is evidence of significant and sensible long-run relationships for a simplified version as well as for the full version of the model. The estimated long-run relationships are used to produce dynamic equations, which outperform a random walk and produce sensible dynamic patterns in the context of an impulse response analysis.
| Author | : Mr.Hamid Faruqee |
| Publisher | : International Monetary Fund |
| Total Pages | : 48 |
| Release | : 1994-08 |
| Genre | : Business & Economics |
| ISBN | : |
Download Long-Run Determinants of the Real Exchange Rate Book in PDF, ePub and Kindle
This paper examines the long-run determinants of the real exchange rate from a stock-flow perspective. The empirical analysis estimates a long-run relationship between the real exchange rate, net foreign assets and other factors affecting trade flows. Using postwar data for the United States and Japan, cointegration analysis supports the finding that the structural factors underlying each country’s net trade and net foreign asset positions determine the long-run path for the real value of the dollar and the yen. The empirical analysis also provides estimates for the underlying stochastic trend in each real exchange rate series.
| Author | : Ronald MacDonald |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 353 |
| Release | : 2012-12-06 |
| Genre | : Business & Economics |
| ISBN | : 9401144117 |
Download Equilibrium Exchange Rates Book in PDF, ePub and Kindle
How successful is PPP, and its extension in the monetary model, as a measure of the equilibrium exchange rate? What are the determinants and dynamics of equilibrium real exchange rates? How can misalignments be measured, and what are their causes? What are the effects of specific policies upon the equilibrium exchange rate? 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.
| Author | : Peter I Hajnal |
| Publisher | : Routledge |
| Total Pages | : 211 |
| Release | : 2019-01-04 |
| Genre | : Political Science |
| ISBN | : 0429790856 |
Download The G7/G8 System Book in PDF, ePub and Kindle
First published in 1999, this guide to the G7/G8 system discusses the origins, characteristics, role and agenda of the G7/G8 system; reviews its evolution; surveys the major debates and questions about the G7/G8; and provides a detailed study of its complex and elusive documentation. It also includes a comprehensive bibliography, of the G7/G8 and its concerns, listing over 600 books, shorter writings, publications in series, book chapters, articles in periodicals, government publications, international organisation publications and Internet resources. The book is intended as a contribution to scholarly literature and as a useful work of reference for academics, government officials, the media, libraries and the general public.
| Author | : Sang-Gon Lee |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 296 |
| Release | : 1999-01-01 |
| Genre | : Business & Economics |
| ISBN | : 9781782541509 |
Download The Global Integration of Europe and East Asia Book in PDF, ePub and Kindle
Assembles contributions to the international conference Europe -- Asia: The Stakes of Interdependence -- France and Korea in Economic Relations between the Two Zones, held in La Havre, France, in September 1997. Economists from both continents find that e
