Chaotic exchange rate dynamics redux

被引：10

作者：

Da Silva, S ^{[1
]}

机构：

[1] Univ Brasilia, Dept Econ, BR-70910900 Brasilia, DF, Brazil

来源：

OPEN ECONOMIES REVIEW | 2001年 / 12卷 / 03期

关键词：

chaos; exchange rates; new open economy macroeconomics; speculative dynamics;

D O I：

10.1023/A:1011181423098

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article generalizes the results shown in De Grauwe, Dewachter, and Embrechts (1993) in a more sophisticated framework. In their model, the speculative dynamics resulting from the interaction between chartists and fundamentalists are incorporated into a Dornbusch-style model to generate a chaotic nominal exchange rate. Here the model of Obstfeld and Rogoff (1995, 1996) replaces the Dornbusch model, and chaotic solutions are still shown to be possible for sensible parameter values.

引用

页码：281 / 304

页数：24

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