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- W2164644915 abstract "We explore how the informational frictions underlying monetary exchange affect international exchange rate dynamics. Our perfectly flexible price model is capable of producing endogenously rigid international relative prices in response to technology and monetary shocks. The model is capable of accounting for the empirical regularities that the real and nominal exchange rates are more volatile than U.S. output, and that the two are positively and perfectly correlated. The model is also consistent with other standard real business cycle facts for the United States." @default.
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- W2164644915 date "2013-01-23" @default.
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- W2164644915 title "MONEY, CAPITAL, AND EXCHANGE RATE FLUCTUATIONS*" @default.
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- W2164644915 doi "https://doi.org/10.1111/j.1468-2354.2012.00735.x" @default.
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