THE REAL EXCHANGE-RATE

被引：19
|
作者：
STEIN, JL
机构：
[1] Brown University, Providence
来源：
JOURNAL OF BANKING & FINANCE | 1990年 / 14卷 / 05期
关键词：
D O I：
10.1016/0378-4266(90)90026-X
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This essay concerns the real value of the $U.S. relative to the G-10. (i) What are the dynamics of the fundamental determinants of the real exchange rate and its steady state value? (ii) To what extent are the observed movements in the exchange rate from 1973 to 1988 due to the fundamentals? (iii) How integrated are international capital markets? (iv) How does the real exchange rate respond to (a) changes in the cyclically adjusted government budget deficit, and to (b) changes in the marginal efficiency of investment? © 1990.
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页码：1045 / 1078
页数：34
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