Author: Allan Bødskov AndersenPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Exchange Rate Dynamics in an Intertemporal General Equilibrium Model with Nominal Rigidities, Imperfect Competition, and Investments
Author: Allan Bødskov AndersenPublisher:
ISBN:
Category :
Languages : en
Pages : 25
Book Description
Exchange Rate Dynamics in an Intertemporal General Equilibrium Model with Nominal Rigidities, Imperfect Competition, and Investments
Author: Allan Bødskov AndersenPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Exchange Rate Dynamics in an Intertemporal General Equilibrium Model with Normal Rigidities, Imperfect Competition, and Investments
Author: Allan Bødskov AndersenPublisher:
ISBN:
Category :
Languages : en
Pages : 25
Book Description
The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities
Author: Robert Miguel W. K. KollmanPublisher: International Monetary Fund
ISBN: 1451928521
Category : Business & Economics
Languages : en
Pages : 52
Book Description
This paper studies dynamic-optimizing model of a semi-small open economy with sticky nominal prices and wages. The model exhibits exchange rate overshooting in response to money supply shocks. The predicted variability of nominal and real exchange rates is roughly consistent with that of G-7 effective exchange rates during the post-Bretton Woods era. The model predicts that a positive domestic money supply shock lowers the domestic nominal interest rate, that it raises output and that it leads to a nominal and real depreciation of the country’s currency. Increases in domestic labor productivity and in the world interest rate too are predicted to induce a nominal and real exchange rate depreciation.
An Essay on the Intertemporal General Equilibrium Model of Exchange Rates in a Continuous-time Version
Author: Ki Young ChungExchange Rate Volatility, Trade, and Capital Flows Under Alternative Exchange Rate Regimes
Author: Piet SercuPublisher: Cambridge University Press
ISBN: 0521562945
Category : Business & Economics
Languages : en
Pages : 176
Book Description
Sercu and Uppal examine volatility of exchange rates in the context of dynamic general equilibrium models.
Exchange Rate Dynamics Redux
Author: Maurice ObstfeldPublisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 48
Book Description
Until now, thinking on open economy macroeconomics has been largely schizophrenic. When it comes to analyzing exchange rate dynamics, an empirically-minded economist abandons modern current account models which, while theoretically coherent, fail to address the awkward reality of sticky nominal prices. In this paper we develop an analytically tractable two-country model that marries a full account of dynamics to a supply framework based on monopolistic competition and sticky prices. It offers simple and intuitive predictions about exchange rates and current accounts that sometimes differ sharply from those of either modern flexible-price intertemporal models, or traditional sticky-price Keynesian models. The model also leads to a novel perspective on the international welfare spillovers of monetary and fiscal policies.
Unconventional Policies and Exchange Rate Dynamics
Author: Gustavo AdlerPublisher: International Monetary Fund
ISBN: 1484328779
Category : Business & Economics
Languages : en
Pages : 38
Book Description
We study exchange rate dynamics under cooperative and self-oriented policies in a two-country DSGE model with unconventional monetary and exchange rate policies. The cooperative solution features a large exchange rate adjustment that cushions the impact of negative shocks and a moderate use of unconventional policy instruments. Self-oriented policies (Nash equilibrium), however, entail limited exchange rate movements and an aggressive use of unconventional policies in both countries. Our results highlight the role of international policy cooperation in allowing the exchange rate to play the traditional role of shock absorber.
Exchange Rate Dynamics
Author: Jean-OIiver HairaultPublisher: Routledge
ISBN: 1134426127
Category : Business & Economics
Languages : en
Pages : 446
Book Description
This important new book builds upon the seminal work by Obsfeld and Rogoff, Foundations of International Macroeconomics and aims at providing a coherent and modern framework for thinking about exchange rate dynamics. With a wide range of contributions, this book is likely to be welcomed by the macroeconomics and financial community.
A Simple Dynamic General Equilibrium Model of the Trade-off Between Fixed and Floating Exchange Rates
Author: Michael B. DevereuxPublisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 48
Book Description