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Real Shocks and the Real Exchange Rate

In: Open-Economy Macroeconomics

Author

Listed:
  • Emil-Maria Claassen

    (University of Paris-Dauphine)

Abstract

The real exchange rate is measured as the relative price of domestic tradables either with respect to foreign tradables or with respect to non-tradables. It can be influenced by monetary and real shocks. Monetary disturbances produce temporary changes in the real exchange rate as an outcome of the asymmetry in the speed of adjustment in the goods and asset markets. Real shocks defined as exogenous disturbances of supply or demand in the goods market can affect the real exchange rate permanently.

Suggested Citation

  • Emil-Maria Claassen, 1993. "Real Shocks and the Real Exchange Rate," International Economic Association Series, in: Helmut Frisch & Andreas Wörgötter (ed.), Open-Economy Macroeconomics, chapter 7, pages 137-152, Palgrave Macmillan.
  • Handle: RePEc:pal:intecp:978-1-349-12884-6_7
    DOI: 10.1007/978-1-349-12884-6_7
    as

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