Geldpolitik und Wechselkursdynamik
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Geldpolitik und Wechselkursdynamik
Credit and Capital Markets – Kredit und Kapital, Vol. 14 (1981), Iss. 3 : pp. 320–340
2 Citations (CrossRef)
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Baltensperger, Ernst
Cited By
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Wechselkursovershooting contra effiziente Devisenmärkte
Lüdiger, Martin
Credit and Capital Markets – Kredit und Kapital, Vol. 22 (1989), Iss. 2 P.173
https://doi.org/10.3790/ccm.22.2.173 [Citations: 0] -
Monetäre Außenwirtschaftstheorie
Baltensperger, Ernst
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 112 (1992), Iss. 4 P.505
https://doi.org/10.3790/schm.112.4.505 [Citations: 0]
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Abstract
Monetary Policy and Exchange Rate Dynamics
The subject of this essay is the influence of monetary policy on exchange rate dynamics. In this connection, emphasis is often placed in recent literature on exchange rate expectation, interest arbitrage and relative rigidity of commodity prices. These elements likewise play an important role in the present essay. However, it is characterized by the fact that the degree of short-term price rigidity is endogenized and made dependent on economic circumstances. The differentiation between lasting changes in the quantity of money and changes rated as merely temporary plays a salient role. With respect to the framing of price and exchange rate expectations perfect symmetry is assumed.