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Stock Markets and Real Exchange Rate

An Intertemporal Approach

Stock Markets and Real Exchange Rate( )
Author: Mercereau, Benot
Series title:IMF Working Papers
ISBN:978-1-4518-5323-0
Publication Date:May 2003
Publisher:International Monetary Fund
Book Format:Paperback
List Price:USD $20.00
Book Description:

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...
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Book Details
Pages:35
Physical Dimensions (W X L X H):8.5 x 11 x 0.3 Inches



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