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Taylor rules and the Deutschmark-dollar real exchange rate / Charles Engel, Kenneth D. West

Author:
Engel, Charles
Published:
Cambridge, Mass. : National Bureau of Economic Research, 2004.
Physical Description:
22 pages, 5 unnumbered pages : illustrations ; 22 cm.
Additional Creators:
West, Kenneth D. (Kenneth David) and National Bureau of Economic Research
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Summary:
"We explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate. The interest rate rule, in conjunction with some standard assumptions, implies that the deviation of the real exchange rate from its steady state depends on the present value of a weighted sum of inflation and output gap differentials. The weights are functions of the parameters of the interest rate rule. An initial look at German data yields some support for the model"--National Bureau of Economic Research web site.
Subject(s):
Note:
"December 2004."
Bibliography Note:
Includes bibliographical references (pages [23-24]).
Other Forms:
Also available in PDF from the NBER world wide web site (www.nber.org).
View MARC record | catkey: 2802925