Interest Rates, Exchange Rates and World Monetary Policy:
A careful basic theoretical and econometric analysis of the factors determining the real exchange rates of Canada, the U.K., Japan, France and Germany with respect to the United States is conducted. The resulting conclusion is that real exchange rates are almost entirely determined by real factors r...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Berlin, Heidelberg
Springer Berlin Heidelberg
2010
|
| Ausgabe: | 1st ed. 2010 |
| Schlagworte: | |
| Online-Zugang: | BTU01 UBR01 UBY01 Volltext |
| Zusammenfassung: | A careful basic theoretical and econometric analysis of the factors determining the real exchange rates of Canada, the U.K., Japan, France and Germany with respect to the United States is conducted. The resulting conclusion is that real exchange rates are almost entirely determined by real factors relating to growth and technology such as oil and commodity prices, international allocations of world investment across countries, and underlying terms of trade changes. Unanticipated money supply shocks, calculated in five alternative ways have virtually no effects. A Blanchard-Quah VAR analysis also indicates that the effects of real shocks predominate over monetary shocks by a wide margin. The implications of these facts for the conduct of monetary policy in countries outside the U.S. are then explored leading to the conclusion that all countries, to avoid exchange rate overshooting, have tended to automatically follow the same monetary policy as the United States. The history of world monetary policy is reviewed along with the determination of real exchange rates within the Euro Area |
| Beschreibung: | 1 Online-Ressource (XII, 404 p) |
| ISBN: | 9783642102806 |
| DOI: | 10.1007/978-3-642-10280-6 |
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| 520 | |a A careful basic theoretical and econometric analysis of the factors determining the real exchange rates of Canada, the U.K., Japan, France and Germany with respect to the United States is conducted. The resulting conclusion is that real exchange rates are almost entirely determined by real factors relating to growth and technology such as oil and commodity prices, international allocations of world investment across countries, and underlying terms of trade changes. Unanticipated money supply shocks, calculated in five alternative ways have virtually no effects. A Blanchard-Quah VAR analysis also indicates that the effects of real shocks predominate over monetary shocks by a wide margin. The implications of these facts for the conduct of monetary policy in countries outside the U.S. are then explored leading to the conclusion that all countries, to avoid exchange rate overshooting, have tended to automatically follow the same monetary policy as the United States. The history of world monetary policy is reviewed along with the determination of real exchange rates within the Euro Area | ||
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Datensatz im Suchindex
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|---|---|
| any_adam_object | |
| author | Floyd, John E. |
| author_facet | Floyd, John E. |
| author_role | aut |
| author_sort | Floyd, John E. |
| author_variant | j e f je jef |
| building | Verbundindex |
| bvnumber | BV046443639 |
| classification_rvk | QM 350 |
| collection | ZDB-2-SBE |
| ctrlnum | (ZDB-2-SBE)978-3-642-10280-6 (OCoLC)1142755439 (DE-599)BVBBV046443639 |
| dewey-full | 339 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 339 - Macroeconomics and related topics |
| dewey-raw | 339 |
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| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1007/978-3-642-10280-6 |
| edition | 1st ed. 2010 |
| format | Electronic eBook |
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| id | DE-604.BV046443639 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T08:44:45Z |
| institution | BVB |
| isbn | 9783642102806 |
| language | English |
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| publisher | Springer Berlin Heidelberg |
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| spelling | Floyd, John E. Verfasser aut Interest Rates, Exchange Rates and World Monetary Policy by John E. Floyd 1st ed. 2010 Berlin, Heidelberg Springer Berlin Heidelberg 2010 1 Online-Ressource (XII, 404 p) txt rdacontent c rdamedia cr rdacarrier A careful basic theoretical and econometric analysis of the factors determining the real exchange rates of Canada, the U.K., Japan, France and Germany with respect to the United States is conducted. The resulting conclusion is that real exchange rates are almost entirely determined by real factors relating to growth and technology such as oil and commodity prices, international allocations of world investment across countries, and underlying terms of trade changes. Unanticipated money supply shocks, calculated in five alternative ways have virtually no effects. A Blanchard-Quah VAR analysis also indicates that the effects of real shocks predominate over monetary shocks by a wide margin. The implications of these facts for the conduct of monetary policy in countries outside the U.S. are then explored leading to the conclusion that all countries, to avoid exchange rate overshooting, have tended to automatically follow the same monetary policy as the United States. The history of world monetary policy is reviewed along with the determination of real exchange rates within the Euro Area Macroeconomics/Monetary Economics//Financial Economics International Economics Econometrics Statistics for Business, Management, Economics, Finance, Insurance Macroeconomics International economics Statistics Realer Wechselkurs (DE-588)4129422-1 gnd rswk-swf Geldpolitik (DE-588)4019902-2 gnd rswk-swf Wechselkursänderung (DE-588)4129405-1 gnd rswk-swf Schock Wirtschaft (DE-588)4322439-8 gnd rswk-swf Koordination (DE-588)4032393-6 gnd rswk-swf Realer Wechselkurs (DE-588)4129422-1 s Wechselkursänderung (DE-588)4129405-1 s Schock Wirtschaft (DE-588)4322439-8 s Geldpolitik (DE-588)4019902-2 s Koordination (DE-588)4032393-6 s 1\p DE-604 Erscheint auch als Druck-Ausgabe 9783642102790 Erscheint auch als Druck-Ausgabe 9783642103032 Erscheint auch als Druck-Ausgabe 9783642424540 https://doi.org/10.1007/978-3-642-10280-6 Verlag URL des Erstveröffentlichers Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Floyd, John E. Interest Rates, Exchange Rates and World Monetary Policy Macroeconomics/Monetary Economics//Financial Economics International Economics Econometrics Statistics for Business, Management, Economics, Finance, Insurance Macroeconomics International economics Statistics Realer Wechselkurs (DE-588)4129422-1 gnd Geldpolitik (DE-588)4019902-2 gnd Wechselkursänderung (DE-588)4129405-1 gnd Schock Wirtschaft (DE-588)4322439-8 gnd Koordination (DE-588)4032393-6 gnd |
| subject_GND | (DE-588)4129422-1 (DE-588)4019902-2 (DE-588)4129405-1 (DE-588)4322439-8 (DE-588)4032393-6 |
| title | Interest Rates, Exchange Rates and World Monetary Policy |
| title_auth | Interest Rates, Exchange Rates and World Monetary Policy |
| title_exact_search | Interest Rates, Exchange Rates and World Monetary Policy |
| title_full | Interest Rates, Exchange Rates and World Monetary Policy by John E. Floyd |
| title_fullStr | Interest Rates, Exchange Rates and World Monetary Policy by John E. Floyd |
| title_full_unstemmed | Interest Rates, Exchange Rates and World Monetary Policy by John E. Floyd |
| title_short | Interest Rates, Exchange Rates and World Monetary Policy |
| title_sort | interest rates exchange rates and world monetary policy |
| topic | Macroeconomics/Monetary Economics//Financial Economics International Economics Econometrics Statistics for Business, Management, Economics, Finance, Insurance Macroeconomics International economics Statistics Realer Wechselkurs (DE-588)4129422-1 gnd Geldpolitik (DE-588)4019902-2 gnd Wechselkursänderung (DE-588)4129405-1 gnd Schock Wirtschaft (DE-588)4322439-8 gnd Koordination (DE-588)4032393-6 gnd |
| topic_facet | Macroeconomics/Monetary Economics//Financial Economics International Economics Econometrics Statistics for Business, Management, Economics, Finance, Insurance Macroeconomics International economics Statistics Realer Wechselkurs Geldpolitik Wechselkursänderung Schock Wirtschaft Koordination |
| url | https://doi.org/10.1007/978-3-642-10280-6 |
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