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Exchange-rates - real and monetary factors

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File Type:
PDF
Item Type:
Journal Article
Date:
1982
Author:
Purvis, Dd
Citation:
Dd Purvis, 'Exchange-rates - real and monetary factors', Economic and Social Research Institute, Economic and Social Review, Vol.13 (Issue 4), 1982, 1982, pp303-314
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Link to the full text item v13n41982_4.pdf  (PDF)  579.2Kb
Abstract:
Precis: In this paper we explore several alternative models of the exchange rate which highlight the role played by real and monetary factors in exchange rate determination, and the short-and long-run effects of exchange rate changes on real output. In the first model, attention is focused on the role of purchasing power parity (PPP) with flexible prices and a variable real exchange rate. The second model introduces sticky prices and replaces PPP with interest rate parity as the key short-run link to the international economy. The third model introduces a multi-sector production structure and explores the implications of Marshallian dynamics whereby capital stocks adjust only slowly. Finally, some conclusions about the role of stabilisation policy are offered.
URI:
http://hdl.handle.net/2262/68711
Author: Purvis, Dd
Publisher:
Economic and Social Research Institute
Type of material:
Journal Article
URI:
http://hdl.handle.net/2262/68711
Collections:
  • The Economic and Social Review, Vol. 13, No. 4, 1982
  • Economic and Social Review Archive: Complete Collection 1969-
Series/Report no:
Economic and Social Review
Vol.13 (Issue 4), 1982
Availability:
Full text available
Keywords:
Economics, Sociology
ISSN:
00129984
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