Exchange Rates and Fundamentals: A General Equilibrium Exploration

• Material Type: 文書・図像類
• Title: Exchange Rates and Fundamentals: A General Equilibrium Exploration
• Author/Editor: 加納, 隆
• Author Heading: 加納, 隆; https://nrid.nii.ac.jp/nrid/1000090456179/
• Publication, Distribution, etc.: Hitotsubashi Institute for Advanced Study, Hitotsubashi University
• Publication Date: 2019-04
• Publication Date (W3CDTF): 2019-04
• Contributor: Hitotsubashi Institute for Advanced Study, Hitotsubashi University
• Text Language Code: eng
• Subject Heading: Exchange rate; Present-value model; Economic fundamental; Random walk; Two-country model; Incomplete market; Cointegrated TFPs; Perfect risk sharing
• Target Audience: 一般
• Note (General): Current Draft: April 15, 2019; This is a revised version of a paper previously circulated under the title of “Exchange Rates and Fundamentals: Closing a Two-country Model.”; Includes Online Appendix; I wish to thank the Seimeikai foundation, the Hitotsubashi Institute for Advanced Study, and a grant-in-aid for scientific research from the Japan Society for the Promotion of Science (numbers 24330060, 17H02542, and 17H00985) for their financial support.
• Format (IMT): application/pdf
• Source: fulltext; https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/30293/070_hiasDP-E-19.pdf
• Access Restrictions: インターネット公開
• Periodical Title: Discussion paper series ; No. HIAS-E-19
• 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）; https://irdb.nii.ac.jp
• Original Data Provider (Database): 一橋大学 : HERMES-IR(一橋大学機関リポジトリ) : Research & Education Resources

• Summary, etc.: Engel and West (2005) show that the observed near random-walk behavior of nominal exchange rates is an equilibrium outcome of a partial equilibrium as...