Theory and Practice of Equilibrium Exchange Rates : Looking into the Euro Empirical Evidence

ISBN-13: 9783639148794 / Angielski / Miękka / 2009 / 112 str.

Carmen Marin Martinez

Opis

Most economists would agree that the real exchangerate is a determinant variable for a well workingeconomy. So far, a big deal of different literaturehad come out to shed some light on exchange ratebehaviour. The peculiarity of exchange rates is thatthey can be understood as a monetary or a realphenomenon, so many approaches and differentconclusions can be found in the specializedliterature. The professionals on the topic are farfrom consensus. Formally, we find that the dynamicversion of the macroeconomic approach in general andthe Natrex approach in particular constitute anadequate methodology to undertake a rigorous analysisof the real exchange rate behaviour. This work,therefore, provides different research looking forthe fundaments of the real exchange rates both in amedium and long run horizon. The book analyzes howthe relationship between economic growth and realexchange rates can be enriched within anintertemporal equilibrium model. This is applied tothe effective euro exchange rate behaviour in theperiod going from 1970 to 2000. The analysis shouldbe useful to academics and researchers on the topic.

O autorze

Master in Economics at UAB (Spain) in collaboration with
University Collage of London. PhD in Economics,
International Doctorate in Economic Analysis at the UAB. Tenure
lecturer at the University of Murcia, Spain.