A Chaotic Monetary Model of the Exchange Rate

Paul Grauwe and Hans Dewachter
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Paul Grauwe: Catholic University of Leuven

Chapter 19 in Open-Economy Macroeconomics, 1993, pp 353-376 from Palgrave Macmillan

Abstract: Abstract Ever since the empirical breakdown of linear structural exchange rate models, the predominant view on exchange rate dynamics has been based on the ‘news’ model. In this model the only sources driving the exchange rate are random events, such as those explored by Frenkel and Mussa (1985), Levich (1985) and Mussa (1984).

Keywords: Exchange Rate; Unit Root; Chaotic Motion; Purchase Power Parity; Market Rate (search for similar items in EconPapers)
Date: 1993
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Working Paper: A Chaotic Monetary Model of the Exchange Rate (1990)
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DOI: 10.1007/978-1-349-12884-6_19

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