The American Economic Review, Volume 70,Edições 3-5American Economic Association., 1980 Includes annual List of doctoral dissertations in political economy in progress in American universities and colleges; and the Hand book of the American Economic Association. |
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Página 773
... exchange rate and the one- month forward exchange rate prevailing at the previous month as in equation ( 2 ) : ( 2 ) In S1 = a + bln F - 1 + u If the forward exchange rate is an unbiased forecast of the future spot exchange rate , then ...
... exchange rate and the one- month forward exchange rate prevailing at the previous month as in equation ( 2 ) : ( 2 ) In S1 = a + bln F - 1 + u If the forward exchange rate is an unbiased forecast of the future spot exchange rate , then ...
Página 960
Exchange Rates and the Current Account By RUDIGER DORNBUSCH AND STANLEY FISCHER * The Short - Run Relation between Growth and Inflation in. This paper develops a model of exchange rate determination that integrates the roles of relative ...
Exchange Rates and the Current Account By RUDIGER DORNBUSCH AND STANLEY FISCHER * The Short - Run Relation between Growth and Inflation in. This paper develops a model of exchange rate determination that integrates the roles of relative ...
Página 969
... exchange rate has to occur immediately and cannot lie further ahead along the adjustment path . This must be true since otherwise there would be the anticipation of infinite capital gains and therefore incipient capital out- flows that ...
... exchange rate has to occur immediately and cannot lie further ahead along the adjustment path . This must be true since otherwise there would be the anticipation of infinite capital gains and therefore incipient capital out- flows that ...
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adjustment Amer analysis assets assumed assumption average behavior budget capital coefficient constant constraint consumer consumer's surplus consumption cost countries curve demand function differential distribution earnings Econ Economic effect efficient elasticity equal equation equilibrium estimates exchange rate expected utility Figure firm foreign exchange market given hypothesis implies income increase indifference curve indirect utility function individual industry inflation interest rate investment investor labor force lagged LDCs marginal marginal utility maximize measure ment monetary money illusion money supply Nash equilibrium nomic optimal output paper parameters percent period positive preferences problem production profits quantity ratio rational expectations regression regulation relative risk aversion Section sector share spot price statistically substitution supply Table tariff Theory tion tive unemployment United University utility function variables w₁ wage welfare workers yields zero