Exchange-Rate Dynamics
An Empirical Investigation
Bibliographic Data
| ID | 10176585 |
|---|---|
| Authors | Robert Driskill (corresponding author), Robert A Driskill |
| Year | 1981 |
| Volume | 89 |
| Issue | 2 |
| Pages | 357-371 |
| Publication date | 1981-04-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/260969 |
| OpenAlex | W2044334614 |
| Language | EN |
| Citations received | 2 |
| References cited | 3 |
This paper estimates a reduced-form exchange-rate equation whose estimates are used to address questions on exchange-rate overshooting, intermediate-run exchange-rate dynamics, and long-run proportionality relationships between relative money supplies and exchange rates. Based on Swiss-U.S. data from the period 1973-79, the major findings are that following a monetary shock there is short-run exchange-rate overshooting by a factor of about two and that subsequent exchange-rate adjustments to a new long-run equilibrium take longer than 2 years and exhibit nonmonotonic patterns
Econometrics · Economics · Exchange rate · Monetary economics · Shock (circulatory · Economic theories and models · Economic Theory and Policy · Monetary Policy and Economic Impact
| Citations per year | 0.05 |
|---|---|
| Citation span | 1982 - 1986 (5) |
| Highly cited | No |