Search by Bookstore
Holdings of Libraries in Japan
This page shows libraries in Japan other than the National Diet Library that hold the material.
Please contact your local library for information on how to use materials or whether it is possible to request materials from the holding libraries.
Search by Bookstore
Bibliographic Record
You can check the details of this material, its authority (keywords that refer to materials on the same subject, author's name, etc.), etc.
- Material Type
- 規格・テクニカルリポート類
- Author/Editor
- 福本,幸男
- Author Heading
- Target Audience
- 一般
- Note (General)
- 出版タイプ： NAtype:80 大阪経大学会「Working Paper」Recently, the phenomenon that the movement of exchange rates in response to monetary shocks does not reach a peak instantaneously, known as the delayed overshooting puzzle, has attracted the attention of many researchers. Although it is important to pay attention before the peak of the overshoot, it is also necessary to take account of the convergence process after the peak to assess Dornbusch’s model appropriately. As is well known, the saddle path is the process by which the new steady state is reached. Our empirical results based on the structural vector autoregression (VAR) analysis using yen-dollar and mark-dollar rates show that the processes are unstable. Therefore, it is possible that the convergence processes deviate from the saddle paths or that the saddle paths shift on their way toward the steady state. However, the phenomenon cannot explain in a regular theoretical sense under the structural VAR analysis’s supposition that an additional shock does not occur after the initial shock. Our results have implications for future research on exchange rate dynamics, although it is not possible for us to explain the mechanism of this phenomenon without further investigation.
- Access Restrictions
- インターネット公開
- Data Provider (Database)
- 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
- Original Data Provider (Database)
- 大阪経済大学 : 大阪経済大学機関リポジトリ