A Model of Market Clearing Exchange Rates

Rajas Parchure ()

Working Papers from eSocialSciences

Abstract: This paper formulates a model of exchange rate determination that describes the market processes by which the foreign exchange markets are cleared and international receipts of countries are brought into equality with their international payments. The model is capable of being explicitly solved for the actual world economy provided the balance of payments data which are routinely collected by central banks and reported to the IMF are arranged by their countrywise origins and destinations.

Keywords: foreign exchange markets; data; national currency; currency; exchange rates; homogenous equations; Forward Exchange Rates; markets; foreign exchange rate; world economy; international receipts; payments; balance of payments; central banks; IMF (search for similar items in EconPapers)
Date: 2009-08
New Economics Papers: this item is included in nep-ifn, nep-mon and nep-opm
Note: Institutional Papers
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Persistent link: https://EconPapers.repec.org/RePEc:ess:wpaper:id:2153

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