Money and exchange rates in the Grossman-Weiss-Rotemberg model:

We examine the impact of monetary injections in the Grossman-Weiss-Rotemberg Model and show that monetary shocks can lead to nominal exchange rates that are more volatile than inflation, money growth or interest rate differentials. Moreover, movements in real exchange rates following monetary inject...

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Bibliographische Detailangaben
Hauptverfasser: Alvarez, Fernando 1964- (VerfasserIn), Atkeson, Andrew 1961- (VerfasserIn)
Format: Buch
Sprache:English
Veröffentlicht: Cambridge, Mass. 1996
Schriftenreihe:National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 5678
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Zusammenfassung:We examine the impact of monetary injections in the Grossman-Weiss-Rotemberg Model and show that monetary shocks can lead to nominal exchange rates that are more volatile than inflation, money growth or interest rate differentials. Moreover, movements in real exchange rates following monetary injections can be persistent and nearly as large as movements in nominal exchange rates nominal exchange rates.
Beschreibung:37 S.