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- W2044977421 abstract "This paper studies the relevance of the asset-market model of exchange-rate determination theory for the Korean won - U. S. dollar exchange rate. We find that the portfolio-balance model produces better forecasts than the random-walk model when the structural model is well specified. From this finding, we believe that the portfolio-balance model can be a good frame of reference for explaining movements of the Korean won-U. S. dollar exchange rate. We expect that this model will become increasingly important for the Korean economy, as well as other newly industrializing countries, as they undergo full scale capital-market liberalization. [F 31, F 47]" @default.
- W2044977421 created "2016-06-24" @default.
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- W2044977421 date "1993-12-01" @default.
- W2044977421 modified "2023-09-24" @default.
- W2044977421 title "The Portfolio-Balance Model of Exchange Rates: Short-Run Behavior and Forecasting (The Korean Won/U.S. Dollar Case)" @default.
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- W2044977421 doi "https://doi.org/10.1080/10168739300000015" @default.
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