Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Research Department.
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| ISBN: | 1283562472
9781283562478
1451891709
9781451891706
1462339999
9781462339990
1452797722
9781452797724
9786613874924
6613874922
9781451921670
1451921675
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| Notes: | Includes bibliographical references (pages 48-53).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Annotation This paper presents a reduced-form model of the real exchange rate. Using multilateral cointegration methods, the model is implemented for the real effective exchange rates of the dollar, the mark, and the yen, over the period 1974-1993. In contrast to much other research using real exchange rates, there is evidence of significant and sensible long-run relationships for a simplified version as well as for the full version of the model. the estimated long-run relationships are used to produce dynamic equations, which outperform a random walk and produce sensible dynamic patterns in the context of an impulse response analysis.
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| Other form: | Print version: MacDonald, Ronald. What determines real exchange rates? [Washington, D.C.] : International Monetary Fund, Research Dept., ©1997
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| Standard no.: | 10.5089/9781451891706.001
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