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Issues in the Assessment of the Exchange Rates of Industrial Countries

International Monetary Fund - 1984

In its surveillance activities, the Fund is frequently confronted with the difficult problem of how to identify exchange rate behavior that is unrelated to underlying economic and financial conditions and, consequently, should be viewed with concern from a national or international standpoint....

Persistent link: https://www.econbiz.de/10014402535

The Instruments and Operating Procedures for Conducting Monetary Policy in the Group of Five Countries

International Monetary Fund - 1989

, Germany, Japan, the United Kingdom, and the United States for implementing monetary policy in the short run. The analysis …

Persistent link: https://www.econbiz.de/10014396489

Economic Structure, the Exchange Rate and Adjustment in the Federal Republic of Germany : A General Equilibrium Approach

International Monetary Fund - 1988

This paper traces the effects of an appreciation of the deutsche mark with the help of a computable general equilibrium model under alternative structural policy scenarios. In the first scenario, characterized by severe structural rigidities, the contractionary effects of exchange rate...

Persistent link: https://www.econbiz.de/10014395794

Commodity Prices and Inflation : Evidence from Seven Large Industrial Countries

International Monetary Fund - 1989

A two-country theoretical model is presented, showing the effects of monetary, fiscal, and supply-side disturbances on prices of primary commodities and manufactured goods, and on exchange rates. If monetary shocks dominate, then commodity prices should lead general price movements, and the...

Persistent link: https://www.econbiz.de/10014395776

Exchange Rate Fluctuations, Pass-Through, and Market Share

International Monetary Fund - 1989

When the exchange rate fluctuates and the market exhibits hysteresis, planning horizons of domestic and foreign competitors will matter in determining pass-through as well as relative market shares of these firms. Using the Cournot duopoly model, it is shown that if the foreign exporter is a...

Persistent link: https://www.econbiz.de/10014396230

External Adjustment and the Strong Yen : Recent Japanese Experience

International Monetary Fund - 1988

The parameters of a conventional model of Japan’s current account were found to be stable in the period of the steeply … rising yen between the fourth quarter of 1985 and the end of 1987. This suggests that Japan’s current account has been … that the rise in the yen has already made a substantial contribution to correcting Japan’s external imbalance …

Persistent link: https://www.econbiz.de/10014395784

Exchange Rate Movements and International Interdependence of Stock Markets

International Monetary Fund - 1989

This paper investigates linkages between stock markets in seven industrialized countries since 1974. Empirical evidence shows that both nominal and real stock prices (and returns) are strongly positively correlated across countries, and that nominal exchange rate changes do not have systematic...