Jump to ContentJump to Main Navigation
Fundamental Determinants of Exchange Rates$
Users without a subscription are not able to see the full content.

Jerome L. Stein and Polly Reynolds Allen

Print publication date: 1998

Print ISBN-13: 9780198293064

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198293062.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 15 December 2019

The Natural Real Exchange Rate of the United States Dollar, and Determinants of Capital Flows

The Natural Real Exchange Rate of the United States Dollar, and Determinants of Capital Flows

Chapter:
(p.38) 2 The Natural Real Exchange Rate of the United States Dollar, and Determinants of Capital Flows
Source:
Fundamental Determinants of Exchange Rates
Author(s):

Jerome L. Stein (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0198293062.003.0002

To what extent has the real exchange rate of the US dollar been as stable as is justified by the ”fundamentals” – fiscal policy, private saving ratio, productivity, rate of return on investment, real long‐term rate of interest? What factors can explain the persistent and large deviations from purchasing power parity? How can we calculate whether the US dollar is over or undervalued? What has produced the US current account deficits? How do international financial markets affect the responses of the US economy to internal and external disturbances?

Keywords:   capital mobility, fiscal policy, international financial markets, purchasing power parity, Real exchange rate of the US dollar, real long‐term rate of interest, return on investment, US budget deficits, US current account deficits, US NATREX

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .