首页 | 本学科首页   官方微博 | 高级检索  
     检索      


Real exchange rates under alternative nominal exchange-rate systems
Authors:Alan C Stockman
Institution:Department of Economics, University of Rochester, Rochester NY 14627 USA;Bureau of Economic Research, 1050 Massachusetts Avenue, Cambridge MA 02138, USA
Abstract:The paper develops an equilibrium model of the determination of exchange rates, the relative price of nontraded goods, and the current account. The focus is on the effects of various real and nominal disturbances and the conditions under which the nominal exchange-rate system is neutral with respect to real variables in the economy. The model demonstrates an assymetry in the roles of trade and nontraded goods in affecting exchange rates. An econometric investigation of the raltion between the exchange-rate system and the variability of real exchange rates provides some evidence against the neutrality hypothesis.
Keywords:
本文献已被 ScienceDirect 等数据库收录!
设为首页 | 免责声明 | 关于勤云 | 加入收藏

Copyright©北京勤云科技发展有限公司  京ICP备09084417号