The Theory of Flexible Exchange Rate Regimes and Macroeconomic Policy

Rudiger W. Dornbusch

251 citations0/0 files storedPalgrave Macmillan UK eBooks

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Global Financial Crisis and Policies Monetary Policy and Economic Impact Economic Theory and Policy

Abstract

This paper develops three perspectives on the determination of exchange rates and their interaction with macroeconomic equilibrium and aggregate policies. A long- run view characterizes exchange rate determination in terms of monetary and real factors where the real aspects include an explicit consideration of relative price structures. A short-run or “liquidity” view of the exchange rate emphasizes the role of asset market equilibrium and expectations. A policy view, finally, analyses the effectiveness of aggregate policies and points out that in the short-run nominal disturbances will tend to be transmitted internationally. The paper concludes with an analysis of dual exchange rate systems as a stabilizing policy in the presence of speculative disturbances. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 251 citations exist upstream.

References

1962Domestic Financial Policies Under Fixed and Under Floating Exchange Rates 1962Domestic Financial Policies under Fixed and under Floating Exchange Rates (Politiques finacierieures interieures avec un systeme de taux de change fixe et avec un systeme de taux de change fluctuant) (Politica financiera interna bajo sistemas de tipos de cambio fijos o de tipos de cambio fluctuantes)1962Política financiera interna bajo sistemas de tipos de cambio fijos o de tipos de cambio fluctuantes 1972The theory of protection 1974Tariffs and nontraded goods

Cited by

1984Asset Markets, Exchange Rates and the Balance of Payments 1977Spot rates, forward rates and exchange market efficiency 1987Time-Varying Parameters and the Out-of-Sample Forecasting Performance of Structural Exchange Rate Models 1999A Cross‐Validation Analysis of Neural Network Out‐of‐Sample Performance in Exchange Rate Forecasting 1986Special Exchange Rates for Capital Account Transactions 1994A Survey of Empirical Research on Nominal Exchange Rates 1983Spot and Futures Prices and the Law of One Price 1985

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.