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A Model of Foreign Exchange Rate Indetermination

Charles Engel ()

Discussion Papers in Economics at the University of Washington from Department of Economics at the University of Washington

Abstract: Economic agents undertake actions to protect themselves from sort-run impact of foreign exchange rate fluctuations: Nominal goods prices are set in consumer' currencies and firms hedge foreign exchange risk. A model is presented here which shows that these features of the economy can lead to inderminacy in the nominal exchange rate in the short run.

Keywords: EXCHANGE; RATE (search for similar items in EconPapers)
JEL-codes: F30 F31 (search for similar items in EconPapers)
Pages: 20 pages
Date: 1996
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Working Paper: A Model of Foreign Exchange Rate Indetermination (1996) Downloads
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