Fixing Exchange Rates : A Virtual Quest for Fundamentals

Robert P. Flood, Andrew K. Rose

Fixed exchange rates are less volatile than floating rates. But the volatility of macroeconomic variables such as money and output does not change very much across exchange rate regimes. This suggests that exchange rate models based only on macroeconomic fundamentals are unlikely to be very successful. It also suggests that there is no clear tradeoff between reduced exchange rate volatility and macroeconomic stability

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Year of publication:	October 1993
Authors:	Flood, Robert P.
Other Persons:	Rose, Andrew K. (contributor)
Institutions:	National Bureau of Economic Research (contributor)
Publisher:	Cambridge, Mass : National Bureau of Economic Research
Subject:	Wechselkurs \| Exchange rate \| Theorie \| Theory \| Wechselkurspolitik \| Exchange rate policy \| Monetäre Wechselkurstheorie \| Monetary approach to exchange rates \| Volatilität \| Volatility \| Industrieländer \| Industrialized countries \| Fester Wechselkurs \| Fixed exchange rate

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Extent:	1 Online-Ressource
Series:	NBER working paper series ; no. w4503
Type of publication:	Book / Working Paper
Language:	English
Notes:	Mode of access: World Wide Web System requirements: Adobe [Acrobat] Reader required for PDF files Hardcopy version available to institutional subscribers.
Other identifiers:	10.3386/w4503 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012474442