Equilibrium Exchange Rates
Published on 6. December 2012
VII, 351 pages
978-94-011-4411-7 (ISBN)
Description
- 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.
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Other editions
Additional editions
Ronald MacDonald | Jerome L. Stein
Equilibrium Exchange Rates
Book
11/2012
Springer
€160.49
Shipment within 15-20 days
Ronald MacDonald | Jerome L. Stein
Equilibrium Exchange Rates
Book
07/1999
Kluwer Academic Publishers
€160.49
Shipment within 15-20 days
Content
1 Introduction: Equilibrium Exchange Rates.- 2 What Do We Really Know about Real Exchange Rates?.- 3 The Evolution of the Real Value of the US Dollar Relative to the G7 Currencies.- 4 A Macroeconomic Balance Framework for Estimating Equilibrium Exchange Rates.- 5 Feers: A Sensitivity Analysis.- 6 Productivity, Government Spending and the Real Exchange Rate: Evidence for OECD Countries.- 7 Fundamentals of the Real Dollar-Pound Rate: 1871-1994.- 8 Nominal Equilibrium Exchange Rate Models: A Panel Perspective.- 9 What Determines Real Exchange Rates: The Long and Short of It.- 10 Exchange Rates and Economic Fundamentals: A Methodological Comparison of Beers and Feers.- 11 Japanese Effective Exchange Rates and Determinants: A Long-Run Perspective.
