Bénassy-Quéré, Agnès; Béreau, Sophie; Mignon, Valérie - In: Review of International Economics 18 (2010) 4, pp. 618-632
Based on a simple, stock-flow adjustment framework, we show that existing concepts of equilibrium exchange rates can be viewed as realizations of the same model at different time horizons. We then compare fundamental and behavioral estimations of equilibrium exchange rates based on the same,...