Exchange-Rate Dark Matter:
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520 | 3 | |a 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 | |
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Datensatz im Suchindex
DE-BY-TUM_katkey | 2666971 |
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any_adam_object | |
author | Evans, Martin D. D. |
author_facet | Evans, Martin D. D. |
author_role | aut |
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id | DE-604.BV048344003 |
illustrated | Not Illustrated |
indexdate | 2024-12-20T19:42:06Z |
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isbn | 1463938438 9781463938437 |
language | English |
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oclc_num | 1337116392 |
open_access_boolean | |
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physical | 1 Online-Ressource (63 p) |
psigel | ZDB-1-IMF |
publishDate | 2012 |
publishDateSearch | 2012 |
publishDateSort | 2012 |
publisher | International Monetary Fund |
record_format | marc |
series2 | IMF Working Papers |
spellingShingle | Evans, Martin D. D. Exchange-Rate Dark Matter |
title | Exchange-Rate Dark Matter |
title_auth | Exchange-Rate Dark Matter |
title_exact_search | Exchange-Rate Dark Matter |
title_full | Exchange-Rate Dark Matter Evans, Martin D. D |
title_fullStr | Exchange-Rate Dark Matter Evans, Martin D. D |
title_full_unstemmed | Exchange-Rate Dark Matter Evans, Martin D. D |
title_short | Exchange-Rate Dark Matter |
title_sort | exchange rate dark matter |
url | http://elibrary.imf.org/view/IMF001/12667-9781463938437/12667-9781463938437/12667-9781463938437.xml |
work_keys_str_mv | AT evansmartindd exchangeratedarkmatter |