| dc.creator |
MacDonald, Ronald |
|
| dc.date |
2000 |
|
| dc.date.accessioned |
2013-10-16T07:05:27Z |
|
| dc.date.available |
2013-10-16T07:05:27Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/19531 |
|
| dc.identifier |
ppn:318219956 |
|
| dc.identifier |
RePEc:zbw:bubdp1:4139 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/19531 |
|
| dc.description |
In this paper we present a critical overview of differnt methods of constructing an equilibrium exchange rate. The recent literature on purchasing power parity (PPP) indicates that on its own PPP is not a good vehicle for defining an equilibrium exchange rate. Rather, we argue that the latter can only be recover from a model in which the real determinants of exchange rates are explicitly modelled. The advantages and disadvantages of various such models are discussed. In particular, the internal-external balance approach to defining an equilibrium real exchange rate is disccused, and this method is compared to the so-called behavioural equilibrium approach. Finally, an approach which uses purely time series methods to construct an equilibrium exchange rate is also discussed. |
|
| dc.language |
eng |
|
| dc.relation |
Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2000,03 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
F31 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
Equilibrium Exchange Rates |
|
| dc.subject |
Purchasing Power Parity |
|
| dc.subject |
Real Exchange Rate Models |
|
| dc.subject |
Wechselkurstheorie |
|
| dc.subject |
Gleichgewicht |
|
| dc.subject |
Kaufkraftparität |
|
| dc.subject |
Ökonometrisches Modell |
|
| dc.subject |
Theorie |
|
| dc.title |
Concepts to Calculate Equilibrium Exchange Rates: An Overview |
|
| dc.type |
doc-type:workingPaper |
|