[fre] D'après Dornbusch [1976], la forte volatilité du taux de change nominal observée depuis la chute du système de Bretton Woods proviendrait d'une sur-réaction du taux de change aux politiques monétaires. Cet article évalue quantitativement la pertinence empirique de cette intuition...

In the spirit of Dornbusch [1976], the overshooting of the nominal exchange rate following monetary innovations accounts for the huge observed volatilities of nominal exchange rates since the collapse of the Bretton Woods system. This paper quantitatively assesses this proposal in the New Open...

Transition to floating exchange rate regimes has led to sharp increases in nominal and real exchange rate volatilities with no corresponding changes in the distribution of fundamental macroeconomic variables. In the spirit of Dornbusch [1976], we assess whether nominal exchange rate overshooting...

Transitions to floating exchange rate regimes have led to sharp increases in exchange rate volatilities with no corresponding changes in the distribution of macroeconomic fundamentals. In the spirit of Dornbusch (1976), we assess whether nominal exchange rate overshooting is responsible for this...