Résumé
We argue that the main equilibrium exchange rate approaches (ppp, beer, and feer) correspond to different time horizons of a single theoretical framework. We propose an illustration for the euro/dollar exchange rate. Our results suggest that the various approaches should not be opposed but rather combined to provide useful benchmarks for exchange-rate policies.
langue originale | Anglais |
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Pages (de - à) | 657-666 |
Nombre de pages | 10 |
journal | Revue Economique |
Volume | 60 |
Numéro de publication | 3 |
Les DOIs | |
Etat de la publication | Publié - 2009 |