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An Alternative Theory of Long-Run Exchange Rate Determination - Antonopoulos Rania

Name: An Alternative Theory of Long-Run Exchange Rate Determination - Antonopoulos Rania
Brand: KS OmniScriptum Publishing
Availability: InStock

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Conventional exchange rate models are based on the fundamental hypothesis that, in the long run, real exchange rates adjust in such a way as to make countries equally competitive, eliminating trade surpluses and deficits. The contention of this book, based on the theoretical underpinnings of absolute competitive advantage, is that movements of long-run exchange rate are determined by real unit costs of tradable goods. According to this argument, the empirical finding of persistent trade imbalances is not the exception, but rather an anticipated outcome. When competitive absolute advantage replaces the, all too often embraced, principle of comparative advantage a framework emerges that stands in opposition to orthodox models. A theoretically grounded, empirically robust explanation of real exchange rate movements is constructed that can be of practical use to researchers, but also, and equally importantly, to policymakers.

EAN: 9783639156690

Producent

KS OmniScriptum Publishing

Kod produktu

560GIV03527KS

Rok wydania

2009

Elementy

100

Oprawa

Miekka

Format

15.2x22.9cm