Verfügbarkeit: Sticky Exchange Rates and Flexible Prices

Sticky Exchange Rates and Flexible Prices: A Heretic View From the Interwar Period

Real exchange rate variability tends to be higher under flexible than under fixed exchange rates. The neokeynesian view attributes the higher variability to the combination of volatile nominal exchange rates with sticky prices. The neoclassical approach regards an increased incidence of real shocks...

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1. Verfasser:	Gulde, Anne Marie (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 1991
Schriftenreihe:	IMF Working Papers Working Paper No. 91/124
Online-Zugang:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext
Zusammenfassung:	Real exchange rate variability tends to be higher under flexible than under fixed exchange rates. The neokeynesian view attributes the higher variability to the combination of volatile nominal exchange rates with sticky prices. The neoclassical approach regards an increased incidence of real shocks as the culprit. We test the crucial assumptions underlying the two models for the interwar period. Prices and exchange rates are found to be equally flexible. We hence reject the neokeynesian sticky price view for our sample period. In contrast, our results are consistent with, while not constituting evidence for, the neoclassical equilibrium approach
Beschreibung:	1 Online-Ressource (74 p)
ISBN:	1451937857 9781451937855

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spelling	Gulde, Anne Marie Verfasser aut Sticky Exchange Rates and Flexible Prices A Heretic View From the Interwar Period Gulde, Anne Marie Washington, D.C International Monetary Fund 1991 1 Online-Ressource (74 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 91/124 Real exchange rate variability tends to be higher under flexible than under fixed exchange rates. The neokeynesian view attributes the higher variability to the combination of volatile nominal exchange rates with sticky prices. The neoclassical approach regards an increased incidence of real shocks as the culprit. We test the crucial assumptions underlying the two models for the interwar period. Prices and exchange rates are found to be equally flexible. We hence reject the neokeynesian sticky price view for our sample period. In contrast, our results are consistent with, while not constituting evidence for, the neoclassical equilibrium approach Online-Ausg Wolf, Holger C. Sonstige oth http://elibrary.imf.org/view/IMF001/06505-9781451937855/06505-9781451937855/06505-9781451937855.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Gulde, Anne Marie Sticky Exchange Rates and Flexible Prices A Heretic View From the Interwar Period
title	Sticky Exchange Rates and Flexible Prices A Heretic View From the Interwar Period
title_auth	Sticky Exchange Rates and Flexible Prices A Heretic View From the Interwar Period
title_exact_search	Sticky Exchange Rates and Flexible Prices A Heretic View From the Interwar Period
title_exact_search_txtP	Sticky Exchange Rates and Flexible Prices A Heretic View From the Interwar Period
title_full	Sticky Exchange Rates and Flexible Prices A Heretic View From the Interwar Period Gulde, Anne Marie
title_fullStr	Sticky Exchange Rates and Flexible Prices A Heretic View From the Interwar Period Gulde, Anne Marie
title_full_unstemmed	Sticky Exchange Rates and Flexible Prices A Heretic View From the Interwar Period Gulde, Anne Marie
title_short	Sticky Exchange Rates and Flexible Prices
title_sort	sticky exchange rates and flexible prices a heretic view from the interwar period
title_sub	A Heretic View From the Interwar Period
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