EXCHANGE-RATES IN THE SHORT RUN - SOME FURTHER RESULTS

被引：36

作者：

BRANSON, WH

HALTTUNEN, H

MASSON, P

机构：

[1] UNIV STOCKHOLM,INST INT ECON STUDIES,S-10691 STOCKHOLM,SWEDEN

[2] BANK FINLAND,HELSINKI,FINLAND

[3] BANK CANADA,MONTREAL,QUEBEC,CANADA

来源：

EUROPEAN ECONOMIC REVIEW | 1979年 / 12卷 / 04期

关键词：

D O I：

10.1016/0014-2921(79)90029-1

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This note extends our earlier results [published in this Journal. Vol. 10 (1977)] on the dollar DM exchange rate to the 1977-78 period. The original equation estimated on 1971-76 data overpredicts the dollar value of the DM during most of 1978. Thus the rise of the DM in the second half of 1978 was consistent with the 'fundamentals' equation. We also show that a net foriegn liability position may destabilize the foreign exchange market and that this may have been empirically significant for the dollar DM rate in 1973-74. © 1979.

引用

页码：395 / 402

页数：8