ISBN: Ostalo
Godina izdanja: 1997
Jezik: Engleski
Oblast: Finansije
Autor: Strani

Jerome L. Stein, Polly Reynolds Allen, and Associates
FUNDAMENTAL DETERMINANTS OF EXCHANGE RATES
Clarendon Press, Oxford, 1997
meke korice, 260 str.

Knjiga je u veoma dobrom ili odličnom stanju, bez oštećenja. Ima nalepnicu na koricama (vidi sliku), pečat i signaturu biblioteke na nekoliko mesta i vrlo malo obeležavanja i podvlačenja (u impresumu, predgovoru i na dve stranice unutar knjige).

`This book greatly enhances our understanding of the behavior of real exchange rates. It provides an elegant model based on a solid theoretical foundation that links real exchange rates to their fundamental economic determinants and takes proper account of stock and flow considerations. The authors provide a masterful account of how changes in productivity and thrift affect the real exchange rate, and show that the long-run impact depends crucially on whether the change reflects the former fundamental (investment) or the latter (consumption). The empirical implementation uses state-of-the-art cointegration and error correction methodologies that are eminently well suited to capture the short-run adjustment of the real exchange rate to its medium- to long-run equilibrium value. The empirical results are extremely encouraging, as the economic fundamentals identified by the authors can explain a substantial part of the movement in the real exchange rate of a number of countries.` Peter Clark (International Monetary Fund)