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Exchange Rate Dynamics with Sticky Prices: The Deutsche Mark, 1974-1982 (Classic Reprint) - Softcover
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Excerpt from Exchange Rate Dynamics With Sticky Prices: The Deutsche Mark, 1974-1982
First, we consider the impact of a relatively broad set of forcing variables on the paths of the price level and the exchange rate. In particular, we specify and estimate the effects of changes in prices of various imported goods and of changes in real wages. The effects of these latter variables on exchange rates has been the focus of theoretical work of Sachs among others.
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Exchange Rate Dynamics With Sticky Prices: The Deutsche Mark, 1974-1982
Print on DemandSeller: Forgotten Books, London, United Kingdom
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Paperback. Condition: New. Print on Demand. This book examines the German Deutsche Mark exchange rate against the US dollar and the German wholesale price index between 1974 and 1982. The author's model builds on the idea that, in this period, German prices were sticky, or slow to change, due to adjustment costs for firms. The author then incorporates this model into a broader theoretical context, considering other variables such as changes in import prices and real wages. The book also explores the short-run nominal rigidities and long-run neutrality the model exhibits, meaning that one-off changes in money supply have real effects, while changes in the rate of money supply growth do not. The author estimates the model using econometric methods, rejecting a simpler version of the model where prices are perfectly flexible, finding evidence of exchange rate overshooting, and showing that the real exchange rate depreciated on impact in response to an increase in Germany's money supply. The book concludes by highlighting the significance of its findings for understanding exchange rate dynamics and sticky prices. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781333733940_0
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Exchange Rate Dynamics With Sticky Prices The Deutsche Mark, 19741982 Classic Reprint
Seller: PBShop.store US, Wood Dale, IL, U.S.A.
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781333733940
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Exchange Rate Dynamics With Sticky Prices The Deutsche Mark, 19741982 Classic Reprint
Seller: PBShop.store UK, Fairford, GLOS, United Kingdom
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781333733940
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