This article analyzes the theory of equilibrium real exchange rates and defines misalignment as a deviation of the real exchange rate (RER) from its equilibrium level. The role of macroeconomic policies is then analyzed under three alternative nominal exchange rate regimes: predetermined nominal exchange rates, floating nominal rates, and dual or black market nominal exchange rates. This discussion points out how inconsistent macroeconomic policies...
انظر المزيد
تفاصيل
-
1989/1/31
-
مقال بمجلة علمية
-
8735
-
1
-
1
-
2001/4/27
-
Exchange rate misalignment in developing countries
-
nominal exchange rate