Exchange Rate Economics: A Survey
AbstractTwo main views of exchange rate determination have evolved since the early 1970s: the monetary approach to the exchange rate (in flexible-price, sticky-price, and real interest differential formulations); and the portfolio balance approach. The literature on these views is surveyed, followed by a discussion of the empirical evidence and likely future developments in the area of exchange rate determination. The literature on foreign exchange market efficiency, exchange rates and "news," and international parity conditions is also reviewed.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 91/62.
Date of creation: 01 Jun 1991
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Other versions of this item:
- F30 - International Economics - - International Finance - - - General
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-02-16 (All new papers)
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