The Exchange Rate and the Balance of Payments in the Short Run and in the Long Run: A Monetary Approach
Pengarang:
Kouri, Pentti J. K. -
Deskripsi
This paper analyzes, by way of a dynamic model, the role of momentary asset equilibrium and expectations in the determination of the exchange rate in the short run, and the role of the process of asset accumulation in the determination of the time path from momentary to long-run equilibrium.