 Revision of Exchange-Rate Determination in the MCMPeter Hooper, Richard D. Haas, Steven A. Symansky and Mustapha K. Nabli Chapter 7 in Exchange Rates in Multicountry Econometric Models, 1983, pp 210-238 from Palgrave Macmillan Abstract: Abstract This paper presents the results of work in progress to revise the exchange-rate determination properties of the Federal Reserve Board’s Multi-Country Model (MCM). The MCM is a medium to large scale quarterly econometric model of five countries — the United States, Canada, Germany, Japan and the United Kingdom — as well as an abbreviated rest-of-world sector. The single country models vary in size from 200 to 300 behavioural equations and identities each, including fully developed domestic income and expenditure sectors, price and wage determination, money markets and international transactions sectors. Since the focus of the MCM is on international linkages, particular attention is paid to international transactions and exchange rates. Trade flows are determined bilaterally and service account and private and official capital flows multilaterally. Bilateral exchange rates for the dollar against the mark, yen, pound and Canadian dollar are determined endogenously. Keywords: Exchange Rate; Current Account; Real Exchange Rate; Foreign Asset; Monetary Shock (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-17286-3_7 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-17286-3_7 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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