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Deutsche Bundesbank, Forschungszentrum, Frankfurt am Main >
Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/19531
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | MacDonald, Ronald | | en_US |
| dc.date.accessioned | | 2009-01-28T15:59:13Z | | - |
| dc.date.available | | 2009-01-28T15:59:13Z | | - |
| dc.date.issued | | 2000 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/19531 | | - |
| dc.description.abstract | | In this paper we present a critical overview of differnt methods of constructing an equilibrium exchange rate. The recent literature on purchasing power parity (PPP) indicates that on its own PPP is not a good vehicle for defining an equilibrium exchange rate. Rather, we argue that the latter can only be recover from a model in which the real determinants of exchange rates are explicitly modelled. The advantages and disadvantages of various such models are discussed. In particular, the internal-external balance approach to defining an equilibrium real exchange rate is disccused, and this method is compared to the so-called behavioural equilibrium approach. Finally, an approach which uses purely time series methods to construct an equilibrium exchange rate is also discussed. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.relation.ispartofseries | | Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2000,03 | | en_US |
| dc.subject.jel | | F31 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Equilibrium Exchange Rates | | en_US |
| dc.subject.keyword | | Purchasing Power Parity | | en_US |
| dc.subject.keyword | | Real Exchange Rate Models | | en_US |
| dc.subject.stw | | Wechselkurstheorie | | en_US |
| dc.subject.stw | | Gleichgewicht | | en_US |
| dc.subject.stw | | Kaufkraftparität | | en_US |
| dc.subject.stw | | Ökonometrisches Modell | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | Concepts to Calculate Equilibrium Exchange Rates: An Overview | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 318219956 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank
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