NDLI: Economic integration and the foreign exchange

Content Provider	Springer Nature Link
Author	Weber, Enzo
Copyright Year	2011
Abstract	This paper demonstrates effects of economic convergence processes on the foreign exchange behaviour in a monetary modelling approach. Since the exchange rate represents the relative price of two currencies, commonness of stochastic trends between the fundamental determinants of supply and demand of the underlying monies restricts exchange rate movements to transitory fluctuations. In the spirit of optimal currency areas, this has the potential to serve as a criterion for an all-round integration of two economies. Empirically, such a constellation is found between Australia and New Zealand, whereas diverging trends in money and interest rates characterise the relation of Australia towards the US.
Starting Page	201
Ending Page	215
Page Count	15
File Format	PDF
ISSN	16124804
Journal	International Economics and Economic Policy
Volume Number	10
Issue Number	2
e-ISSN	16124812
Language	English
Publisher	Springer-Verlag
Publisher Date	2011-12-31
Publisher Place	Berlin, Heidelberg
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Monetary exchange rate model Convergence Stationarity Australia International Economics Economic Policy Macroeconomics/Monetary Economics
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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Economic integration and the foreign exchange