| Tekijä: | MacDonald, R. |
| Otsikko: | Exchange rate behaviour: Are fundamentals important? |
| Lehti: | Economic Journal
1999 : NOV, VOL. 109:459, p. 673-691 |
| Asiasana: | ECONOMICS EXCHANGE RATES |
| Kieli: | eng |
| Tiivistelmä: | This paper focuses on a controversy which is central to the international economics literature, the role and usefulness of traditional economic in explaining exchange rate behavior. 3 aspects of the controversy are addressed: the ability of fundamentals to explain or capture the longer run trends in the behavior of exchange rates; the ability of fundamentals to produce exchange rate forecasts which are an improvement over the simple martingale; the sources of real exchange rate variability and reconciling such with regime volatility. |
SCIMA