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Fundamental Determinants of Exchange Rates by Jerome L. Stein, Polly Reynolds Allen, Deitel & Associates is a book available to read on EtoBox.

What is Fundamental Determinants of Exchange Rates about?

xiii, 213 pages : 23 cm 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 exchange rates, purchasing power parity, or 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-to long-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 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 conce

Author

Jerome L. Stein, Polly Reynolds Allen, Deitel & Associates

Publisher

Oxford: Clarendon Press ; New York: Oxford University Press

Published

1997

Language

EN

ISBN

9780198287995

Subjects

Economics, Finance, Language Learning