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Exchane rate puzzles : a tale of switching attractors
De Grauwe, Paul; Grimaldi, Marianna - In: Exchange rates and global financial policies, (pp. 71-117). 2014
Persistent link: https://www.econbiz.de/10010350428
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Heterogeneity of agents, transaction costs and the exchange rate
De Grauwe, Paul; Grimaldi, Marianna - In: Exchange rates and global financial policies, (pp. 33-70). 2014
Persistent link: https://www.econbiz.de/10010350430
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The exchange rate in a model with heterogeneous agents and transactions costs
De Grauwe, Paul; Grimaldi, Marianna - 2002
In this paper we develop a model of the exchange rate. The existence of transactions costs introduces an important non-linearity. Agents have different beliefs about the future exchange rate. We show that this simple model creates great complexity in the market which is characterised by the fact...
Persistent link: https://www.econbiz.de/10011539052
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Exchange rate puzzles : a tale of switching attractors
De Grauwe, Paul; Grimaldi, Marianna - In: European economic review : EER 50 (2006) 1, pp. 1-33
Persistent link: https://www.econbiz.de/10003229033
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Heterogeneity of agents and the exchange rate : a nonlinear approach
De Grauwe, Paul; Grimaldi, Marianna - In: Exchange rate economics : where do we stand?, (pp. 125-167). 2005
Persistent link: https://www.econbiz.de/10002836166
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Heterogeneity of agents, transactions costs and the exchange rate
De Grauwe, Paul; Grimaldi, Marianna - In: Journal of economic dynamics & control 29 (2005) 4, pp. 691-719
Persistent link: https://www.econbiz.de/10002702731
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The exchange rate in a model with heterogeneous agents and transactions costs
De Grauwe, Paul; Grimaldi, Marianna - 2002
In this paper we develop a model of the exchange rate. The existence of transactions costs introduces an important non-linearity. Agents have different beliefs about the future exchange rate. We show that this simple model creates great complexity in the market which is characterised by the fact...
Persistent link: https://www.econbiz.de/10001723714
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Exchange rate puzzles : a tale of switching attractors
De Grauwe, Paul; Grimaldi, Marianna - 2004
The rational expectations efficient market model of the exchange rate has failed empirically. In this paper we develop a model of the exchange rate in which agents use simple forecasting rules. Based on an ex post evaluation of the relative profitability of these rules they decide whether to...
Persistent link: https://www.econbiz.de/10011583140