The long-run determination of the real exchange rate. Evidence from an intertemporal modelling framework using the dollar-pound exchange rate

Autor:	Keith Pilbeam, Ioannis Litsios
Jazyk:	angličtina
Rok vydání:	2017
Předmět:	Macroeconomics Economics and Econometrics 050208 finance Bond 05 social sciences HB Monetary economics Pound (mass) Exchange rate Interest rate parity 0502 economics and business European integration Economics Liberian dollar 050207 economics
ISSN:	0923-7992
Popis:	This paper develops a model of optimal choice over an array of different assets, including domestic and foreign bonds, domestic and foreign equities and domestic and foreign real money balances to examine the determination of the real exchange rate in the long-run. The model is tested empirically using data from the UK and the USA. The results show that all the coefficients of the model are right signed and significant and consequently financial assets may play a significant role in the determination of the real exchange rate.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::af2b30b0ebd38ac61761c0c76a06a242 Zobrazit plný text záznamu Full text from SpringerLink