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Dornbusch's Overshooting Model After Twenty-Five Years

Rogoff, Kenneth - International Monetary Fund (IMF) - 2002

This Mundell Fleming lecture at the International Monetary Fund’s 2001 annual research conference marks the 25th anniversary of Rudiger Dornbusch’s masterpiece, “Expectations and Exchange Rate Dynamics,” a seminal contribution to both policy and research in the field of international...

Persistent link: https://www.econbiz.de/10005826493

Stabilizing Rational Speculation and Price Level Targeting

Reither, Franco; Bennöhr, Lars - Fächergruppe Volkswirtschaftslehre, Helmut Schmidt … - 2010

We analyze the contribution of speculation to exchange rate volatility using different assumptions regarding … speculation strategies and monetary policy rules. We take the DORNBUSCH (1976) model as the starting point and adopt a slight … modification of the money demand specification. With a money supply rule, rational speculation dampens the overshooting of the …

Persistent link: https://www.econbiz.de/10008511341

Les bulles spéculatives et le marché de l’immobilier

Teulon, Frédéric - Institut de Préparation à l'Administration et à la … - 2014

L’évaluation du prix des actifs est un problème récurrent en économie. Cette question se pose dans le domaine de l’immobilier comme dans d’autres domaines. Après une très forte phase de croissance, le marché immobilier américain a été touché à partir du mois de juin 2007 par...

Persistent link: https://www.econbiz.de/10010796406

Mauritius; A Competitiveness Assessment

Minoiu, Camelia; Imam, Patrick A. - International Monetary Fund (IMF) - 2008

We assess the competitiveness of Mauritius in recent years using two approaches. First, we estimate the difference between the equilibrium and the actual real exchange rate using four methods: the macroeconomic balance approach, the single-equation fundamentals approach, the capital-enhanced...

Persistent link: https://www.econbiz.de/10005264133

Equilibrium Exchange Rates; Assessment Methodologies

Isard, Peter - International Monetary Fund (IMF) - 2007

The paper describes six different methodologies that have been used to assess the equilibrium values of exchange rates and discusses their limitations. It applies several of the approaches to data for the United States as of 2006, illustrates that different approaches sometimes provide...

Persistent link: https://www.econbiz.de/10005825724

Methodology for Current Account and Exchange Rate Assessments

Kincaid, G. Russell; Fetherston, Martin; Isard, Peter; … - International Monetary Fund (IMF) - 2001

Persistent link: https://www.econbiz.de/10005767377

Hungary; Selected Issues

International Monetary Fund (IMF); International … - 2004

This Selected Issues paper reviews indicators for external competitiveness in Hungary. The paper examines recent developments in a range of indicators. These include regional comparisons of wage and unit labor cost developments, and standard indicators based on price and cost-based measures of...

Persistent link: https://www.econbiz.de/10005768632

Exchange Rate Assessment; Extension of the Macroeconomic Balance Approach

Isard, Peter; Faruqee, Hamid - International Monetary Fund (IMF) - 1998

The IMF's internal analysis of exchange rate issues has been guided by, and limited by, the conceptual and empirical frameworks that have emerged from the collective research of the economics profession. The research has provided several general approaches that are useful for assessing whether...

Persistent link: https://www.econbiz.de/10005590920

Competitiveness in the Baltics in the Run-Up to EU Accession

International Monetary Fund (IMF); International … - 2003

This paper analyzes competitiveness in the Baltics in the run-up to European Union accession. Several factors appear to have driven movements in equilibrium real exchange rates in the Baltics since the start of the transition process. In the earlier years of transition, price liberalization,...

Persistent link: https://www.econbiz.de/10005591344

Nonlinearity in Deviations From Uncovered Interest Parity; An Explanation of the Forward Bias Puzzle

Valente, Giorgio; Leon, H. L.; Sarno, Lucio - International Monetary Fund (IMF) - 2006

nonlinearities, consistent with theories based on transaction costs or limits to speculation. This evidence suggests that the forward …

Persistent link: https://www.econbiz.de/10005604790

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