Teorías del tipo de cambio:una panorámica
- Bajo Rubio, Oscar
- Sosvilla Rivero, Simón
ISSN: 2341-2356
Ano de publicación: 1993
Número: 7
Páxinas: 1-73
Tipo: Documento de traballo
Outras publicacións en: Documentos de Trabajo (ICAE)
Resumo
This paper surveys the main theoretical contributions to the literature on exchange-rate detennination. To this end, it discusses the purchasing power parity theory, the traditional flow model, and the asset-market model (in both its monetary and portfolio-balance versions), as well as some developments that have been recently proposed in an attempt to improve their bad empirical performance. Finally, we review the available empirical evidence of these models for the Spanish Peseta case.