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Tivig, Thusnelda
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Diskussionsbeiträge: Serie II, Sonderforschungsbereich 178 "Internationalisierung der Wirtschaft", Universität Konstanz 18
The more recent asset market literature on flexible exchange rates seems to share the opinion that it is not possible to treat the stock-flow interaction on the adjustment path to a new long-run equilibrium adequately in continuous time. The present paper discloses some severe inconsistencies between the verbal and formal formulation of the asset market ap-proach (AMA) that are linked to this proposition and argues that the AMA has not reached its target yet. A possible Solution is outlined.
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Working Paper

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