Fundamental Determinants of Exchange Rates

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9780198293064: Fundamental Determinants of Exchange Rates

"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

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

About the Author :

Jerome L. Stein is at Brown University. Polly Reynolds Allen is at University of Connecticut.

Review :


"The work of Jerome Stein and his colleagues in developing the NATREX model of the equilibrium exchange rate marks an important advance in a field that has been unreasonably neglected until recently."--John Williamson, Institute for International Economics


"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."--Peter Clark, International Monetary Fund


Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

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1.

Jerome L. Stein, Polly Reynolds Allen
Edité par Oxford University Press, USA (1998)
ISBN 10 : 0198293062 ISBN 13 : 9780198293064
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Ergodebooks
(RICHMOND, TX, Etats-Unis)
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Description du livre Oxford University Press, USA, 1998. Paperback. État : New. N° de réf. du libraire DADAX0198293062

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2.

Stein, Jerome L. (Editor)/ Allen, Polly Reynolds (Editor)
Edité par Oxford Univ Pr on Demand (1998)
ISBN 10 : 0198293062 ISBN 13 : 9780198293064
Neuf(s) Paperback Quantité : 1
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Revaluation Books
(Exeter, Royaume-Uni)
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Description du livre Oxford Univ Pr on Demand, 1998. Paperback. État : Brand New. 272 pages. 8.50x5.75x0.75 inches. In Stock. N° de réf. du libraire zk0198293062

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