1 option
Why Has the Euro Been Falling? An Investigation into the Determinants of the Exchange Rate / Hans-Werner Sinn, Frank Westermann.
- Format:
- Book
- Author/Creator:
- Sinn, Hans-Werner.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w8352.
- NBER working paper series no. w8352
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2001.
- Summary:
- This paper reconsiders the determinants of the exchange rate by studying the historical episode after the fall of the Iron Curtain. Testing a modified portfolio balance model, we attribute the strength of the deutschmark in the early nineties and the puzzling decline of the euro during its virtual existence to changes in the demand for deutschmarks in eastern Europe and to variations in the demand for black money balances in Europe as a whole. We reject the view that the strength of the dollar and the weakness of the euro reflect the prosperity of the US and the weakness of the European economy on both theoretical and empirical grounds.
- Notes:
- Print version record
- July 2001.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.