Exchange-Rate Dark Matter:
Gespeichert in:
Bibliographische Detailangaben
Beteilige Person: Evans, Martin D. D. (VerfasserIn)
Format: Elektronisch E-Book
Sprache:Englisch
Veröffentlicht: Washington, D.C International Monetary Fund 2012
Schriftenreihe:IMF Working Papers Working Paper No. 12/66
Links:http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml
Abstract:Dark matter accounts for 83 percent of the matter in the universe and plays a central role in cosmology modeling. This paper argues that an analogous form of dark matter plays a similarly important role in international macroeconomics. Exchange-rate dark matter is invisible, but its existence can be inferred from observations on real exchange rates and interest rates. I first show that dark matter is the dominant driver of short- and medium-term changes in real exchange rates for the G-7 countries; accounting for more than 90 percent of the variance at the five-year horizon. I then develop a model in which risk shocks account for dark matter''s role as a driver of exchange-rate dynamics and other macro variables
Umfang:1 Online-Ressource (63 p)
ISBN:1463938438
9781463938437