Exchange Rates And Economic Fundamentals


Exchange Rates And Economic Fundamentals
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Exchange Rates And Economic Fundamentals


Exchange Rates And Economic Fundamentals
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Author : Mr.Tamim Bayoumi
language : en
Publisher: International Monetary Fund
Release Date : 1994-09-15

Exchange Rates And Economic Fundamentals written by Mr.Tamim Bayoumi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-09-15 with Business & Economics categories.


This paper summarizes the methods and types of indicators that are often employed, both insid and outside the IMF, to assess whether exchange rates are broadly in line with economic fundamentals.



Exchange Rates And Economic Fundamentals


Exchange Rates And Economic Fundamentals
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Author : Mr.Peter B. Clark
language : en
Publisher: International Monetary Fund
Release Date : 1998-05-01

Exchange Rates And Economic Fundamentals written by Mr.Peter B. Clark and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-05-01 with Business & Economics categories.


This paper compares two approaches for examining the extent to which a country’s actual real effective exchange rate is consistent with economic fundamentals: the FEER approach, which involves calculating the real exchange rate that equates the current account at full employment with sustainable net capital flows, and the BEER approach, which uses econometric methods to establish a behavioral link between the real rate and relevant economic variables. An exchange rate model is estimated for the G-3 currencies to provide illustrative comparisons of BEERs and FEERs.



Exchange Rates And Economic Fundamentals


Exchange Rates And Economic Fundamentals
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Author : Peter Clark [and three others]
language : en
Publisher:
Release Date :

Exchange Rates And Economic Fundamentals written by Peter Clark [and three others] and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.




Equilibrium Exchange Rates


Equilibrium Exchange Rates
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Author : Ronald MacDonald
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Equilibrium Exchange Rates written by Ronald MacDonald and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.


How successful is PPP, and its extension in the monetary model, as a measure of the equilibrium exchange rate? What are the determinants and dynamics of equilibrium real exchange rates? How can misalignments be measured, and what are their causes? What are the effects of specific policies upon the equilibrium exchange rate? The answers to these questions are important to academic theorists, policymakers, international bankers and investment fund managers. This volume encompasses all of the competing views of equilibrium exchange rate determination, from PPP, through other reduced form models, to the macroeconomic balance approach. This volume is essentially empirical: what do we know about exchange rates? The different econometric and theoretical approaches taken by the various authors in this volume lead to mutually consistent conclusions. This consistency gives us confidence that significant progress has been made in understanding what are the fundamental determinants of exchange rates and what are the forces operating to bring them back in line with the fundamentals.



Determinants Of An Exchange Rate


Determinants Of An Exchange Rate
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Author : Ralph Johann
language : en
Publisher: GRIN Verlag
Release Date : 2008-09

Determinants Of An Exchange Rate written by Ralph Johann and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09 with categories.


Seminar paper from the year 2005 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3, California State University, Fullerton, course: International Economics, 8 entries in the bibliography, language: English, abstract: This paper will discuss the general relationship between the two major currencies of the world: the US-Dollar and the Euro and the determinants for the exchange rate fluctuations since the introduction of the Euro as the common currency of Europe during the period between January 1999 and November 2005. Since the introduction of the Euro as the common currency of the European Monetary Union (EMU) in 1999 this relationship was first characterized by a sharp depreciation of the Euro followed by a three year lasting appreciation of the same that passed over in a slight depreciation again from the beginning of 2005 in the long run.1 This paper will first focus on the History of the international currency exchange system from the 19th century until the end of the Bretton Woods System in 1973 and on the history of the currency system in the European community. It will then discuss the general determinants of exchange rates in the short and long run. It will be pointed out that in the short run interest rate differentials and expectations of international portfolio investors matter and in the long run the economic fundamentals such as inflation rates and GDP growth rates of either economic region are the main factors for the behaviour of the exchange rate. In this context the theories of the Law of one price and the purchasing power parity are introduced. In the third part of the paper the exchange rate theories introduced in the previous part are applied to the -$ exchange rate in the time period between 1999 and 2005. Thus, the short term and long term factors are used to explain the relationship between the two currencies in this period. Finally, the last part serves as a conclusion.



Some Evidenceon Exchange Rate Determination In Major Industrial Countries


Some Evidenceon Exchange Rate Determination In Major Industrial Countries
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Author : Mr.R. B. Johnston
language : en
Publisher: International Monetary Fund
Release Date : 1997-08-01

Some Evidenceon Exchange Rate Determination In Major Industrial Countries written by Mr.R. B. Johnston and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-08-01 with Business & Economics categories.


This paper examines the role of long-run monetary and cyclical factors in determining exchange rate movements. Results of empirical study using a data set that includes Canada, Germany, Japan, the United Kingdom, and the United States support the view that exchange rate movements can be explained by the efficient or rational adjustment of foreign exchange markets to economic fundamentals. In the long run, the exchange rate is determined consistent with a monetary approach to exchange rates, while cyclical factors have an impact on short-run exchange rate dynamics. Estimated equations outperform random walk models of exchange rates.



Fundamental Determinants Of Exchange Rates


Fundamental Determinants Of Exchange Rates
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Author : Jerome L. Stein
language : en
Publisher: Oxford University Press
Release Date : 1997

Fundamental Determinants Of Exchange Rates written by Jerome L. Stein and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.


Neo-classical in its stress on fundamentals that drive a real economy, this study also offers an alternative paradigm to describe and explain short-run movements of nominal exchange rates.



Exchange Rate Movements And Their Explanation


Exchange Rate Movements And Their Explanation
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Author : Martin Vetter
language : en
Publisher: GRIN Verlag
Release Date : 2008-02-26

Exchange Rate Movements And Their Explanation written by Martin Vetter and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-02-26 with Business & Economics categories.


Seminar paper from the year 2004 in the subject Economics - Monetary theory and policy, grade: High Destinction (1), The University of Sydney, language: English, abstract: The essay addresses the topic of exchange rate movements and their explanation. Four different theoretical approaches are therefore taken into consideration, namely the Monetary Fundamentals approach, the Macroeconomic Balance approach, the Dispersed Information or Microstructure approach and the approach of explaining exchange rate movements by dealers. The essay outlines each approach and its assumptions briefly and evaluates the underlying time horizon, short-, medium- or long-term horizon, of each model. Furthermore the four approaches of exchange rate analysis are put into contrast. Finally all approaches are evaluated in spite of their individual strengths and weaknesses and linked to each other.



Exchange Rate Economics


Exchange Rate Economics
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Author : Ronald MacDonald
language : en
Publisher: Taylor & Francis
Release Date : 2007-03-12

Exchange Rate Economics written by Ronald MacDonald and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-03-12 with Business & Economics categories.


First published in 2007. Exchange Rate Economics: Theories and Evidence is the second edition of Floating Exchange Rates: Theories and Evidence, and builds on the successful content and structure of the previous edition, but has been comprehensively updated and expanded to include additional literature on the determination of both fixed and floating exchange rates. Core topics covered include: • the purchasing power parity hypothesis and the PPP puzzle; • the monetary and portfolio-balance approaches to exchange rates; • the new open economy macroeconomics approach to exchange rates; and • the determination of exchange rates in target zone models and speculative attack models. Exchange Rate Economics: Theories and Evidence also includes extensive discussion of recent econometric work on exchange rates with a particular focus on equilibrium exchange rates and measuring exchange rate misalignment, as well as discussion on the non-fundamentals-based approaches to exchange rate behaviour, such as the market microstructure approach. The book will appeal to academics and postgraduate students with an interest in all aspects of international finance and will also be of interest to practitioners concerned with issues relating to equilibrium exchange rates and the forecastability of currencies in terms of macroeconomic fundamentals.



Determinants Of An Exchange Rate


Determinants Of An Exchange Rate
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Author : Ralph Johann
language : en
Publisher: GRIN Verlag
Release Date : 2008-09-09

Determinants Of An Exchange Rate written by Ralph Johann and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09-09 with Business & Economics categories.


Seminar paper from the year 2005 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3, California State University, Fullerton, course: International Economics, language: English, abstract: This paper will discuss the general relationship between the two major currencies of the world: the US-Dollar and the Euro and the determinants for the exchange rate fluctuations since the introduction of the Euro as the common currency of Europe during the period between January 1999 and November 2005. Since the introduction of the Euro as the common currency of the European Monetary Union (EMU) in 1999 this relationship was first characterized by a sharp depreciation of the Euro followed by a three year lasting appreciation of the same that passed over in a slight depreciation again from the beginning of 2005 in the long run.1 This paper will first focus on the History of the international currency exchange system from the 19th century until the end of the Bretton Woods System in 1973 and on the history of the currency system in the European community. It will then discuss the general determinants of exchange rates in the short and long run. It will be pointed out that in the short run interest rate differentials and expectations of international portfolio investors matter and in the long run the economic fundamentals such as inflation rates and GDP growth rates of either economic region are the main factors for the behaviour of the exchange rate. In this context the theories of the Law of one price and the purchasing power parity are introduced. In the third part of the paper the exchange rate theories introduced in the previous part are applied to the €-$ exchange rate in the time period between 1999 and 2005. Thus, the short term and long term factors are used to explain the relationship between the two currencies in this period. Finally, the last part serves as a conclusion.