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Commodity Export Boom and the Real Exchange Rate: The Money-Inflation Link / Sebastian Edwards.
- Format:
- Book
- Author/Creator:
- Edwards, Sebastian.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w1741.
- NBER working paper series no. w1741
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Commodity Export Boom and the Real Exchange Rate
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1985.
- Summary:
- This paper analyzes the relation between exogenous changes in commodity export prices and the real exchange rate in a monetary economy. The traditional Dutch?Disease case is extended, and the monetary consequences of an export boom are explored. It is shown that commodity export booms can generate, in the short run, either an excess demand or an excess supply for money. In a monetary setting the short-run behavior of the real exchange rate can differ significantly from the more traditional Dutch-Disease case without money. The model is tested using data for Colombia.
- Notes:
- Print version record
- October 1985.
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