Gespeichert in:
Bibliographische Detailangaben
Beteilige Person: Taylor, Mark P. (VerfasserIn)
Format: Elektronisch E-Book
Sprache:Englisch
Veröffentlicht: Washington, D.C International Monetary Fund 1993
Schriftenreihe:IMF Working Papers Working Paper No. 93/48
Links:http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
http://elibrary.imf.org/view/IMF001/01585-9781451972269/01585-9781451972269/01585-9781451972269.xml
Abstract:This paper deals with hysteresis in the desired equilibrium exchange rate (DEER) arising from misalignment. When the actual real exchange rate departs from its DEER value, current account realizations--and consequently, debt service obligations--will differ from those assumed in the initial DEER calculation, necessitating its recomputation. The paper derives a formal expression for this hysteresis effect in the DEER, studies the convergence properties of a system in which the evolution of actual exchange rates depends on the DEER and provides illustrative calculations of its historical significance. Finally, the paper derives and applies rules of thumb for computing the hysteresis effect when considering the rate of approach of an exchange rate to its DEER value
Umfang:1 Online-Ressource (36 p)
ISBN:1451972261
9781451972269