Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/211515 
Authors: 
Year of Publication: 
1988
Series/Report no.: 
Bank of Finland Discussion Papers No. 12/1988
Publisher: 
Bank of Finland, Helsinki
Abstract: 
In this paper a small aggregative model of the Finnish economy with rational exchange rate and price expectations is specified and estimated with quarterly data. Optimal exchange rate regimes are assessed by simulating effects of various unanticipated and permanent shocks. According to the simulation results fixed exchange rates seem to insulate the domestic economy from monetary shocks while floating rates are preferable if shocks are real.
Persistent Identifier of the first edition: 
ISBN: 
951-686-156-3
Document Type: 
Working Paper

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