Introduction: equilibrium exchange rates

MacDonald, R. and Stein, J. L. (1999) Introduction: equilibrium exchange rates. In: MacDonald, R. and Stein, J.L. (eds.) Equilibrium Exchange Rates. Series: Recent economic thought series, 69. Kluwer Academic Publishers, pp. 1-17. ISBN 9789401058964 (doi:10.1007/978-94-011-4411-7_1)

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The papers in this volume are directed towards answering the following types of questions: 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 — such as the International Monetary Fund, governments, Central Banks — and to international bankers and investment fund managers. One of the attractive features of this collection of papers is that they encompass all of the competing views of equilibrium exchange rate determination, from PPP, to other reduced form models, through to the macroeconomic balance approach.

Item Type:Book Sections (Introduction)
Glasgow Author(s) Enlighten ID:MacDonald, Professor Ronald
Authors: MacDonald, R., and Stein, J. L.
College/School:College of Social Sciences > Adam Smith Business School > Economics
Publisher:Kluwer Academic Publishers

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