Recent Economic Thought

Equilibrium Exchange Rates

Editors: MacDonald, Ronald, Stein, Jerome L. (Eds.)

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About this book

  • How successful is PPP, and its extension in the monetary model, as a measure of the equilibrium exchange rate?
  • What are the determinants and dynamics of equilibrium real exchange rates?
  • How can misalignments be measured, and what are their causes?
  • What are the effects of specific policies upon the equilibrium exchange rate?

The answers to these questions are important to academic theorists, policymakers, international bankers and investment fund managers. This volume encompasses all of the competing views of equilibrium exchange rate determination, from PPP, through other reduced form models, to the macroeconomic balance approach.
This volume is essentially empirical: what do we know about exchange rates? The different econometric and theoretical approaches taken by the various authors in this volume lead to mutually consistent conclusions. This consistency gives us confidence that significant progress has been made in understanding what are the fundamental determinants of exchange rates and what are the forces operating to bring them back in line with the fundamentals.

Table of contents (11 chapters)

  • Introduction: Equilibrium Exchange Rates

    MacDonald, Ronald (et al.)

    Pages 1-17

  • What do We Really Know about Real Exchange Rates?

    MacDonald, Ronald

    Pages 19-65

  • The Evolution of the Real Value of the US Dollar Relative to the G7 Currencies

    Stein, Jerome L.

    Pages 67-101

  • A Macroeconomic Balance Framework for Estimating Equilibrium Exchange Rates

    Faruqee, Hamid (et al.)

    Pages 103-133

  • Feers: A Sensitivity Analysis

    Driver, Rebecca (et al.)

    Pages 135-162

Buy this book

eBook $169.00
price for USA (gross)
  • ISBN 978-94-011-4411-7
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $239.00
price for USA
  • ISBN 978-0-7923-8424-3
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $219.00
price for USA
  • ISBN 978-94-010-5896-4
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Equilibrium Exchange Rates
Editors
  • Ronald MacDonald
  • Jerome L. Stein
Series Title
Recent Economic Thought
Series Volume
69
Copyright
1999
Publisher
Springer Netherlands
Copyright Holder
Springer Science+Business Media New York
eBook ISBN
978-94-011-4411-7
DOI
10.1007/978-94-011-4411-7
Hardcover ISBN
978-0-7923-8424-3
Softcover ISBN
978-94-010-5896-4
Series ISSN
0924-199X
Edition Number
1
Number of Pages
VII, 351
Topics