On Interpreting the Random Walk Behavior of Nominal and Real Exchange Rates /
The random walk property of exchange rates is frequently regarded as carrying strong implications for the kinds of shocks that have driven exchange rates and the models appropriate for analyzing their behavior. This paper conducts stochastic simulations of Dornbusch's (1976) sticky-price moneta...
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| Format: | Tidsskrift |
| Sprog: | English |
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Washington, D.C. :
International Monetary Fund,
1991.
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| Serier: | IMF Working Papers; Working Paper ;
No. 1991/007 |
| Online adgang: | Full text available on IMF |