The Swedish real exchange rate under different currency regimes

被引：1

作者：

Larsson, AS ^{[1
]}

机构：

[1] Stockholm Univ, Inst Int Econ Studies, SE-10691 Stockholm, Sweden

来源：

REVIEW OF WORLD ECONOMICS | 2004年 / 140卷 / 04期

关键词：

real exchange rate; exchange rate regimes; cointegration;

D O I：

10.1007/BF02659621

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper presents evidence on the behaviour of the Swedish real exchange rate relative to Germany under different currency regimes during the period 1973:1-2001:4. The results suggest that the real exchange rate is cointegrated with Swedish and German productivity, which is consistent with Balassa (1964) and Samuelson (1964). In the short run, the exchange rate regime has mattered for the dynamics of the real exchange rate. Deviations from long-run equilibrium have been adjusted more quickly when the nominal exchange rate has been allowed to float freely.

引用

页码：706 / 727

页数：22

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