Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/31335 
Erscheinungsjahr: 
2006
Schriftenreihe/Nr.: 
Working Paper No. 06-22
Verlag: 
University of California, Department of Economics, Davis, CA
Zusammenfassung: 
Recent discussions of exchange rate determination have emphasized the possible role of foreign direct investment in influencing exchange rate behavior. Yet, there are few existing models of multinational enterprises (MNEs) and endogenous exchange rates. This paper demonstrates that the entry decisions of MNEs can influence the volatility of the real exchange rate in countries were there are significant costs involved in maintaining production facilities, even when prices are perfectly flexible. For empirically plausible parameters, MNE activity can make the exchange rate much more volatile than relative consumption.
JEL: 
C32
C47
C53
Dokumentart: 
Working Paper

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