The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities : A Quantitative Investigation

A Quantitative Investigation

The Exchange Rate in a Dynamic-Optimizing Current Account Model with Nominal Rigidities : A Quantitative Investigation
This paper studies dynamic-optimizing model of a semi-small open economy with sticky nominal prices and wages. The model exhibits exchange rate overshooting in response to money supply shocks. The predicted variability of nominal and real exchange rates is roughly consistent with that of G-7 effective exchange rates during the post-Bretton Woods... READ MORE...

Publication date: January 1997
ISBN 9781451928525
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