Exchange Rates and Global Rebalancing

Eichengreen, Barry; Rua, Gisela | April 2011
抄録
This paper considers the general equilibrium relationship between exchange rates and global imbalances. It emphasizes that the exchange rate is not a primitive but an equilibrium price determined by the policy mix. It uses extensions of the two-country Obstfeld-Rogoff model to analyze the response of imbalances and real exchange rates to shocks. Finally, it analyzes the characteristics of episodes in which chronic current account surpluses (as opposed to deficits) come to an end.
Citation
Eichengreen, Barry; Rua, Gisela. 2011. Exchange Rates and Global Rebalancing. © Asian Development Bank. http://hdl.handle.net/11540/3866. License: CC BY 3.0 IGO.
Keywords
Development
Finance
Development Challenges
Development Issues
Development Problems
Microenterprises Finance
Commercial Finance Companies
Enterprise Financing
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URI
http://hdl.handle.net/11540/3866
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