SPECULATION, INCOMPLETE CURRENCY MARKET PARTICIPATION, AND NONFUNDAMENTAL MOVEMENTS IN NOMINAL AND REAL EXCHANGE-RATES
成果类型：
Article
署名作者：
BARNETT, RC
刊物名称：
JOURNAL OF INTERNATIONAL ECONOMICS
ISSN/ISSBN：
0022-1996
DOI：
10.1016/0022-1996(92)90055-O
发表日期：
1992
页码：
167-186
关键词：
摘要：
This paper studies possible nonfundamental movements in nominal and real exchange rates arising from a world economy with speculation, incomplete participation in international currency markets and nontraded goods. The model is capable of generating equilibria which display comovements in nominal and real exchange rates not unlike those observed in actual economies.