The Exchange Rate and the Balance of Payments in the Short Run and in the Long Run: A Monetary Approach

The Exchange Rate and the Balance of Payments in the Short Run and in the Long Run: A Monetary Approach

This paper analyzes, by way of a dynamic model, the role of momentary asset equilibrium and expectations in the determination of the exchange rate in the short run, and the role of the process of asset accumulation in the determination of the time path from momentary to long-run equilibrium.

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Veröffentlicht in:The Scandinavian journal of economics 1976-01, Vol.78 (2), p.280-304
1. Verfasser: Kouri, Pentti J K
Format: Artikel
Sprache:eng
Schlagworte:
Balance of payments
Economic expectations
Equilibrium exchange rates
Exchange rates
Foreign assets
Foreign exchange rates
Inflation rates
International economics
Surplus
Wealth
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Beschreibung
Zusammenfassung:This paper analyzes, by way of a dynamic model, the role of momentary asset equilibrium and expectations in the determination of the exchange rate in the short run, and the role of the process of asset accumulation in the determination of the time path from momentary to long-run equilibrium.
ISSN:0347-0520
1467-9442
1467-9442
DOI:10.2307/3439930