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Book Cover
Author Johnston, R. B. (Robert Barry)

Title Some evidence on exchange rate determination in major industrial countries / prepared by R. Barry Johnston and Yan Sun
Published [Washington, D.C.] : International Monetary Fund, Monetary and Exchange Affairs Dept., [1997]
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Description 1 online resource (38 pages) : illustrations
Series IMF working paper ; WP/97/98
IMF working paper ; WP/97/98
Summary The concept of exchange rate misalignment is a somewhat problematic one reflecting our imperfect knowledge of exchange market behavior. Although there have been some episodes when foreign exchange markets have exhibited trends that are widely seen as incompatible with economic fundamentals, nevertheless, at any point in time, it is difficult to know what explains exchange rate movements and whether a perceived "misalignment" is the result of a "market failure", or a "model failure", or a "policy failure." This is essentially the dilemma facing the policymaker in deciding what, if any, action to take in response to exchange rate movements. It is imperative, therefore, that a satisfactory approach to modeling exchange rate movements which can be supported by empirical evidence be developed to aid our understanding of exchange rate movements, and the formulation of suitable policy responses
Bibliography Includes bibliographical references (pages 37-38)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Dollar, American -- Econometric models.
Foreign exchange rates -- Econometric models.
Mark, German -- Econometric models.
Yen, Japanese -- Econometric models.
Form Electronic book
Author Sun, Yan.
International Monetary Fund. Monetary and Exchange Affairs Department.
ISBN 1281600431