Sticky Exchange Rates and Flexible Prices : A Heretic View From the Interwar Period

A Heretic View From the Interwar Period

Sticky Exchange Rates and Flexible Prices : A Heretic View From the Interwar Period
Real exchange rate variability tends to be higher under flexible than under fixed exchange rates. The neokeynesian view attributes the higher variability to the combination of volatile nominal exchange rates with sticky prices. The neoclassical approach regards an increased incidence of real shocks as the culprit. We test the crucial assumptions... READ MORE...

Publication date: December 1991
ISBN 9781451937855
$15.00

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