An Exchange Market Pressure Model for India
This study has two objectives: first, it tries to explain both exchange rate movements and official intervention through the use of a single dependent variable, Exchange Market Pressure (EMP); second, it provides a measure of the degree of monetary autonomy that a country possesses. These objectives are evaluated within the framework of a bilateral model comprising India and Rest of the World, over the period covering January 1980 to July 1998. The study uses the Girton and Roper (1977) monetary model of EMP which is modified to incorporate explicitly the role played by expectations in generating EMP. The conclusion reached is that the modified model performs much better than the original Girton and Roper(G-R) model in explaining EMP, and that the results could probably be further improved by using a model that embodies the general equilibrium approach as opposed to the partial equilibrium approach of the G-R model and the modified version used in this study.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 34 (1999)
Issue (Month): 2 (July)
|Contact details of provider:|| Postal: |
Phone: 91-11-2766-6533/34/35, 2766-6703/04/05
Web page: http://www.ierdse.org/
More information through EDIRC
|Order Information:|| Web: http://www.ierdse.org/ Email: |
When requesting a correction, please mention this item's handle: RePEc:dse:indecr:v:34:y:1999:i:2:p:127-148. 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: (Pami Dua)
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.