Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. African Department.
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| ISBN: | 1451898819
9781451898811
1462359019
9781462359011
1452749221
9781452749228
1282108298
9781282108295
9786613801647
661380164X
9781451853230
1451853238
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| Notes: | Includes bibliographical references (page 35).
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: | The paper presents an N-country model with stock markets, in which a closed-form solution for the real exchange rate is derived. Risky asset prices and allocation of risky assets among countries are determined endogenously. Such a framework allows an analysis of how fundamental parameters, such as the variance and covariance of the risky assets or demographic variables, affect the real exchange rate. The predictions of the model are contrasted with the Balassa-Samuelson effect. A new transmission channel of the real exchange rate for parameters such as income on net foreign assets, risk aversion, and risk-hedging opportunities is also explored.
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| Other form: | Print version: Mercereau, Benoît. Stock markets and the real exchange rate. [Washington, D.C.] : International Monetary Fund, ©2003
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| Standard no.: | 10.5089/9781451898811.001
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