Exchange Rate Dynamics Redux

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Exchange Rate Dynamics Redux

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Title: Exchange Rate Dynamics Redux
Author: Obstfeld, Maurice; Rogoff, Kenneth S.

Note: Order does not necessarily reflect citation order of authors.

Citation: Obstfeld, Maurice, and Kenneth Rogoff. 1995. Exchange rate dynamics redux. Journal of Political Economy 103(3): 624-660.
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Abstract: We develop an analytically tractable two-country model that marries a full account of global macroeconomic dynamics to a supply framework based on monopolistic competition and sticky nominal prices. The model offers simple and intuitive predictions about exchange rates and current accounts that sometimes differ sharply from those of either modern flexible-price intertemporal models or traditional sticky-price Keynesian models. Our analysis leads to a novel perspective on the international welfare spillovers due to monetary and fiscal policies.
Published Version: http://www.jstor.org/stable/2138701
Terms of Use: This article is made available under the terms and conditions applicable to Other Posted Material, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#LAA
Citable link to this page: http://nrs.harvard.edu/urn-3:HUL.InstRepos:12491026
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