Showing 21 - 30 of 635,511
Persistent link: https://www.econbiz.de/10003570182
Persistent link: https://www.econbiz.de/10000904327
Persistent link: https://www.econbiz.de/10001183459
This paper proposes an equilibrium theory of nominal exchange rates, which offers a new perspective on various issues … features of this theory are that the nominal exchange rate is determined in international financial markets, that the risk … from the nominal exchange rate. In terms of policy, this novel theory implies that a country with an exchange rate peg and …
Persistent link: https://www.econbiz.de/10013212261
This paper constructs a stochastic general equilibrium model of a small open economy consisting of risk averse optimizing agents. The stochastic processes describing the rate of monetary growth, government expenditure, private production, and the foreign price level are taken to be exogenous,...
Persistent link: https://www.econbiz.de/10012475364
This paper constructs a stochastic general equilibrium model of a small open economy consisting of risk averse optimizing agents. The stochastic processes describing the rate of monetary growth, government expenditure, private production, and the foreign price level are taken to be exogenous,...
Persistent link: https://www.econbiz.de/10013310226
This paper explores a number of methodological issues that arise in the calculation of equilibrium exchange rates, which are identified in this paper as those real effective exchange rates consistent with macroeconomic equilibrium, i.e., internal and external balance. A partial equilibrium,...
Persistent link: https://www.econbiz.de/10014398735
The paper identifies based on the monetary overinvestment (malinvestment) theories by Wicksell (1898), Mises (1912) and Hayek (1929) monetary policy mistakes in large industrial countries issuing international currencies. It its argued that a benign neglect towards monetary policy reform in a...
Persistent link: https://www.econbiz.de/10009769015
Persistent link: https://www.econbiz.de/10013455727
We investigate monopolistic tendencies and the intensity of currency competition on the crypto market in the light of Hayek’s "Denationalization of money". Interestingly, Hayek never considered differentiation and specialization by innovative private currencies could lead lasting currency...
Persistent link: https://www.econbiz.de/10013499180