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Cover Art
E-RESOURCE
Author Mercereau, Benoît.

Title Stock Markets and the Real Exchange Rate [electronic resource] : An Intertemporal Approach / Benoît Mercereau.

Published Washington, D.C. : International Monetary Fund, 2003.

Copies

Location Call No. Status
 UniM INTERNET resource    AVAILABLE
Physical description 1 online resource (35 p.)
Series IMF Working Papers; Working Paper ; No. 03/109
IMF Working Papers; Working Paper ; No. 03/109
Summary The paper presents an N-country model with stock markets, in which a closed-form solution for the real exchange rate is derived. Risky asset prices and allocation of risky assets among countries are determined endogenously. Such a framework allows an analysis of how fundamental parameters, such as the variance and covariance of the risky assets or demographic variables, affect the real exchange rate. The predictions of the model are contrasted with the Balassa-Samuelson effect. A new transmission channel of the real exchange rate for parameters such as income on net foreign assets, risk aversion, and risk-hedging opportunities is also explored.
Notes Description based on print version record.
Other author Mercereau, Benoît.
Subject Balassa-Samuelson Effect
Exchange Rate
Hedging
International Finance: General
Open Economy Macroeconomics
Real Exchange Rate
ISBN 1451853238 : 15.00 USD
9781451853230
ISSN 1018-5941
Standard Number 10.5089/9781451853230.001