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Fixing Exchange Rates: A Virtual Quest for Fundamentals / Robert P. Flood, Andrew K. Rose.
- Format:
- Book
- Author/Creator:
- Flood, Robert P.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w4503.
- NBER working paper series no. w4503
- Language:
- English
- Subjects (All):
- Foreign exchange rates.
- Money--Tables.
- Money.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Fixing Exchange Rates
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1993.
- Cambridge, Massachusetts : National Bureau of Economic Research, 1993.
- Summary:
- 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.
- Notes:
- Print version record
- October 1993.
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