3 edition of **Taylor rules and the Deutschmark-dollar real exchange rate** found in the catalog.

Taylor rules and the Deutschmark-dollar real exchange rate

Charles Engel

- 83 Want to read
- 39 Currently reading

Published
**2004**
by National Bureau of Economic Research in Cambridge, Mass
.

Written in English

- Foreign exchange rates -- Econometric models,
- Foreign exchange rates -- Germany -- Econometric models,
- Foreign exchange rates -- United States -- Econometric models

**Edition Notes**

Statement | Charles Engel, Kenneth D. West. |

Series | NBER working paper series -- no. 10995., Working paper series (National Bureau of Economic Research) -- working paper no. 10995. |

Contributions | West, Kenneth D., National Bureau of Economic Research. |

The Physical Object | |
---|---|

Pagination | 22, [5] p. : |

Number of Pages | 22 |

ID Numbers | |

Open Library | OL17625754M |

OCLC/WorldCa | 57424150 |

Taylor Rules and the Deutschmark: Dollar Real Exchange Rate Journal of Money, Credit and Banking, , 38, (5), View citations () See also Working Paper () The U.S. current account deficit and the expected share of world . using real-time data for the Deutschmark/dollar and Euro/dollar exchange rates. There are no studies on exchange rate forecasting with real-time data for a reasonably large number of countries over the post Bretton Woods period because of the limited availability of real-time data for countries other than the U.S.

Dornbusch R () Expectations and Exchange Rate Dynamics. J Polit Econ – Engel C, West KW () Taylor Rules and the Deutschmark-Dollar Real Exchange Rate. J Money Credit Bank – Taylor Rules and the Deutschmark-Dollar Real Exchange Rate with Kenneth D. West: w Published: Engel, Charles & West, Kenneth D., "Taylor Rules and the Deutschmark: Dollar Real Exchange Rate," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(5), pages , August. citation courtesy of.

This paper reexamines the explanatory power of Taylor rule fundamentals for real exchange rate determination. We assume the agents know the time-varying parameters in central bank policy rules. The main focus is on metallic standards and fixed exchange rates, such as the gold standard. With its combination of thematic overviews and case studies of the key countries and periods, the book greatly enhances our understanding of past monetary systems.

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Taylor Rules and the Deutschmark–Dollar Real Exchange Rate We explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate. The interest rate rule, in conjunction with some standard assumptions, implies that the deviation of the real exchange rate from its steady state depends on the present value of a.

Taylor Rules and the Deutschmark-Dollar Real Exchange Rate Charles Engel, Kenneth D. West. NBER Working Paper No. Issued in December NBER Program(s):International Finance and Macroeconomics, Monetary Economics. We explore the link between an interest rate rule for monetary policy and the behavior of the real exchange by: Download Citation | Taylor Rules and the Deutschmark: Dollar Real Exchange Rate | We explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate.

The authors explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate. The interest rate rule, in conjunction with some standard assumptions, implies that the deviation of the real exchange rate from its steady state depends on the present value of a weighted sum of inflation and output gap Cited by: Downloadable (with restrictions).

We explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate. The interest rate rule, in conjunction with some standard assumptions, implies that the deviation of the real exchange rate from its steady state depends on the present value of a weighted sum of inflation and output gap differentials.

" Taylor Rules and the Deutschmark: Dollar Real Exchange Rate," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(5), pagesAugust. References listed on IDEAS HTML HTML with abstract plain text plain text with abstract BibTeX RIS (EndNote, RefMan, ProCite) ReDIF JSON Campbell, John Y.

& Clarida, Richard H., factor depends on the weight that the real exchange rate receives in the Taylor rule. The weights on output and inflation are those of the Taylor rule. We attempt to gauge the congruence between the variable implied by this present value and the actual Deutschmark-dollar real exchange rate, Abstract.

We explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate.

The interest rate rule, in conjunction with some standard assumptions, implies that the deviation of the real exchange rate from its steady state depends on the present value of a weighted sum of inflation and output gap differentials.

Taylor Rules and the Deutschmark-Dollar Real Exchange Rate Charles Engel and Kenneth D. West NBER Working Paper No. December JEL No. F41, E52 ABSTRACT We explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate.

CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): We explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate. The interest rate rule, in conjunction with some standard assumptions, implies that the deviation of the real exchange rate from its steady state depends on the present value of inflation and.

Taylor Rules and the Deutschmark Dollar Real Exchange Rate. By Charles Engel and Kenneth D. West. Abstract. The authors explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate.

The interest rate rule, in conjunction with some standard assumptions, implies that the deviation of the real. "Taylor Rules and the Deutschmark: Dollar Real Exchange Rate," Journal of Money, Credit and Banking, Blackwell Publishing, vol.

38(5), pagesAugust. Charles Engel & Kenneth D. West, " Taylor Rules and the Deutschmark-Dollar Real Exchange Rate," NBER Working PapersNational Bureau of Economic Research, Inc. Get this from a library.

Taylor rules and the Deutschmark-dollar real exchange rate. [Charles Engel; Kenneth D West; National Bureau of Economic Research.] -- "We explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate.

The interest rate rule, in conjunction with some standard assumptions, implies that. TAYLOR RULES AND THE DEUTSCHMARK - DOLLAR REAL EXCHANGE RATE Charles Engel University of Wisconsin Kenneth D.

West University of Wisconsin May Last revised January ABSTRACT We explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate. This paper explores the influence of Taylor rule deviations on the Deutschmark-Dollar and Yen-Dollar real exchange rate.

Taylor rule deviations occur if the short term interest rate persistently deviates from an interest rate path consistent with the Taylor rule. of Taylor-rule fundamentals for exchange rate determination in a model with learning.

In his model, agents use least-square learning rules to acquire information about the numerical values of the model’s coeﬃcients. He ﬁnds that the model is able to capture six major swings of the real Deutschemark-Dollar exchange rate from to Taylor rules and the Deutschmark-Dollar real exchange rate.

Journal of Money, Credit, and Banking, – [Crossref], [Web of Science ®] , [Google Scholar]). This model-based exchange rate is determined by the fundamentals of the Taylor rule exchange rate model and treated as the equilibrium exchange rate.

Engel and West: w Exchange Rates and Fundamentals: Engel and West: w Taylor Rules and the Deutschmark-Dollar Real Exchange Rate: Engel, Mark, and West: w Exchange Rate Models Are Not as Bad as You Think: Molodtsova and Papell: w Taylor Rule Exchange Rate Forecasting During the Financial Crisis: Devereux and Engel: w Expectations and Exchange Rate.

Taylor Rules and the DeutschmarkDollar Real Exchange Rate. By Charles Engel and Kenneth D. West. Abstract. We explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate.

The interest rate rule, in conjunction with some standard assumptions, implies that the deviation of the real exchange rate. Downloadable (with restrictions). This paper attacks the Meese-Rogoff (exchange rate disconnect) puzzle from a different perspective: out-of-sample interval forecasting.

Most studies in the literature focus on point forecasts. In this paper, we apply Robust Semi-parametric (RS) interval forecasting to a group of Taylor rule models.

Forecast intervals for twelve OECD exchange rates. Engel, Charles, and Kenneth D. West. Taylor rules and the Deutschmark-dollar real exchange rates.

Journal of Money, Credit and Banking – [Google Scholar] Engel, Charles, Dohyeon Lee, Chang Liu, Chenxin Liu, and Steve Pak Yeung Wu. The uncovered interest parity puzzle, exchange rate forecasting, and Taylor rules.of Taylor-rule fundamentals for exchange rate determination in a model with learning.

In his model, agents use least-square learning rules to acquire information about the numerical values of the model’s coeﬃcients. He ﬁnds that the model is able to capture six major swings of the real Deutschmark-Dollar exchange rate from to 1. Introduction. The Taylor rule has become the dominant model for academic evaluation of out-of-sample exchange rate predictability.

Papers by Engel et al,Engel et al,Molodtsova, Papell,Molodtsova, Papell,Molodtsova et al,Molodtsova et al,and Ince () report superior out-of-sample exchange rate predictability with Taylor .