English, Article edition: A History of the D-Mark's Real External Value Christoph Fischer; Karlhans Sauernheimer

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Bookmark: http://trove.nla.gov.au/version/166717
Physical Description
  • article
Language
  • English

Edition details

Title
  • A History of the D-Mark's Real External Value
Author
  • Christoph Fischer
  • Karlhans Sauernheimer
Physical Description
  • article
Notes
  • An equilibrium time path of the real effective exchange rate of Germany's currency in the post Bretton Woods period is calculated. For this purpose, a NATREX model for the long-run determination of this specific variable is developed. A cointegration analysis gives evidence in favour of the model and provides the equilibrium values. The theoretical and empirical results are used to analyse in detail movements in the real exchange rate of the D-Mark. Estimation results suggest, among other things, that the D-Mark has mostly been overvalued and that it often adjusted with some delay to changes in the fundamentals. Copyright Blackwell Publishers Ltd/​University of Adelaide and Flinders University of South Australia 2002.
  • RePEc:bla:ausecp:v:41:y:2002:i:4:p:480-498
Language
  • English
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