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Exchange Rate Dynamics and the Disconnect

Dynamika devizového kurzu a přerušení vztahu mezi vývojem kurzu a dalších makroekonomických veličin

Miroslava Jindrová

Acta Oeconomica Pragensia, 2007, vol. 2007, issue 4, 56-68

Abstract: In this paper we bring the survey of the contemporaneous research on the behaviour of exchange rate and so called exchange rate disconnect puzzle. We have introduced several directions in which research on this object could be developed. They are basically concerned with the monopolistically competition, which allows for exchange rate fluctuations from its long run equilibrium level, so that purchasing power parity condition doesn't holds. The alternative approach incorporates heterogeneous agents' setup.

Keywords: exchange rate determination; exchange rate disconnect; overshooting; volatility (search for similar items in EconPapers)
JEL-codes: E52 F31 F41 (search for similar items in EconPapers)
Date: 2007
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Redakce Acta Oeconomica Pragensia, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3

DOI: 10.18267/j.aop.75

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Handle: RePEc:prg:jnlaop:v:2007:y:2007:i:4:id:75:p:56-68