The Fundamental Determinants of the Real Exchange Rate of the U. S. Dollar Relative to Other G-7 Currencies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Fundamental Determinants of the Real Exchange Rate of the U. S. Dollar Relative to Other G-7 Currencies write by Mr.Jerome L. Stein. This book was released on 1995-08-01. The Fundamental Determinants of the Real Exchange Rate of the U. S. Dollar Relative to Other G-7 Currencies available 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.
The Fundamental Determinants of the Real Exchange Rate of the U.S. Dollar Relative to Other G-7 Currencies
The Fundamental Determinants of the Real Exchange Rate of the U.S. Dollar Relative to Other G-7 Currencies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Fundamental Determinants of the Real Exchange Rate of the U.S. Dollar Relative to Other G-7 Currencies write by Jerome L. Stein. This book was released on 2006. The Fundamental Determinants of the Real Exchange Rate of the U.S. Dollar Relative to Other G-7 Currencies available 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.
Fundamental Determinants of Exchange Rates
Fundamental Determinants of Exchange Rates - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Fundamental Determinants of Exchange Rates write by Jerome L. Stein. This book was released on 1997. Fundamental Determinants of Exchange Rates available in PDF, EPUB and Kindle. Existing models fail to explain the large fluctuations in the real exchange rates of most currencies over the past twenty years. The Natural Real Exchange Rate approach (NATREX) taken here offers an alternative paradigm to those which focus on short-run movements of nominal eschange rates, purchasing power parity of the representative agent intertemporal optimization models. Yet it is also neo-classical in its stress upon the accepted fundamentals driving a real economy. It concentrates on the real exchange rate, and explains medium- tolong-run movements in equilibrium real exchange rates in terms of fundamental variables: the productivity of capital and social (public plus private) thrift at home and abroad. The NATREX approach is a family of growth models, each tailored to the characteristics of the countries considered. The authors explain the real international value of the US dollar relativ to the G10 countries, and the US current account. These are two large economies. The model is also applied to small economies, where it explains the real value of the Australian dollar and the Latin American currencies relative to the US dollar. The model is relevant for developing countries where the foreign debt is a concern. Finally, it is applied to two medium-sized economies to explain the bilateral exchange rate between the French franc and the Deutsche Mark. The authors demonstrate both the promise of the NATREX model and its applicability to economies large and small. Alongside the analysis, econometrics, and technical details of these case studies, the introductory chapter explains in accessible terms the rationale behind the approach. The mix of theory and empirical evidence makes this book relevant to academics and advanced graduate students, and to central banks, ministries of finance, and those concerned with the foreign debt of developing countries.
The fundemental determinants of the real exchange rate of the U.S. dollar relative to the other G-7 currencies
The fundemental determinants of the real exchange rate of the U.S. dollar relative to the other G-7 currencies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The fundemental determinants of the real exchange rate of the U.S. dollar relative to the other G-7 currencies write by Jerome L. Stein. This book was released on 1995. The fundemental determinants of the real exchange rate of the U.S. dollar relative to the other G-7 currencies available in PDF, EPUB and Kindle.
The Fundamental Determinats of the Real Exchange Rate of the US Dollar Relative to Other G-7 Currencies
The Fundamental Determinats of the Real Exchange Rate of the US Dollar Relative to Other G-7 Currencies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Fundamental Determinats of the Real Exchange Rate of the US Dollar Relative to Other G-7 Currencies write by Jerome L. Stein. This book was released on 1995. The Fundamental Determinats of the Real Exchange Rate of the US Dollar Relative to Other G-7 Currencies available in PDF, EPUB and Kindle.
