Money and Exchange Rates in the Grossman-Weiss-Rotemberg Model

Fernando Alvarez and Andrew Atkeson

No 5678, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We examine the impact of monetary injections in the Grossman-Weiss-Rotemberg Model and show that monetary shocks can lead to nominal exchange rates that are more volatile than inflation, money growth or interest rate differentials. Moreover, movements in real exchange rates following monetary injections can be persistent and nearly as large as movements in nominal exchange rates nominal exchange rates.

JEL-codes: F31 F33 (search for similar items in EconPapers)
Date: 1996-07
Note: IFM
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Citations: View citations in EconPapers (2)

Published as Journal of Monetary Economics, Vol. 40, no. 3 (1997): 619-640.

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Journal Article: Money and exchange rates in the Grossman-Weiss-Rotemberg model (1997)
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