IDEAS home Printed from https://ideas.repec.org/a/aea/jeclit/v33y1995i1p13-47.html
   My bibliography  Save this article

The Economics of Exchange Rates

Author

Listed:
  • Mark P. Taylor

Abstract

Reviews the literature on exchange rate economics over the last two decades, with particular reference to recent developments. Topics surveyed include the evidence on foreign exchange market efficiency and forward discount bias, chewed interest parity and purchasing power parity, the theory and evidence relating to the determination of exchange rates (the flexible-price monetary model, the stickyprice monetary model, the equilibrium models and the portfolio balance model), recent work on the effectiveness of foreign exchange intervention, and the recent literature on exchange rate behavior within target zones. The emerging literature on foreign exchange market microstructure is also briefly discussed.

Suggested Citation

  • Mark P. Taylor, 1995. "The Economics of Exchange Rates," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 13-47, March.
  • Handle: RePEc:aea:jeclit:v:33:y:1995:i:1:p:13-47
    as

    Download full text from publisher

    File URL: http://www.e-jel.org/archive/mar1995/Taylor.pdf
    Download Restriction: Access to full text is restricted to AEA members.

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aea:jeclit:v:33:y:1995:i:1:p:13-47. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael P. Albert). General contact details of provider: http://edirc.repec.org/data/aeaaaea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.