01688cas a2200241 a 4500 AALejournalIMF004517 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451851359 1018-5941 BD-DhAAL BD-DhAAL Faruqee, Hamid. Long-Run Determinants of the Real Exchange Rate : A Stock-Flow Perspective / Hamid Faruqee. Washington, D.C. : International Monetary Fund, 1994. 1 online resource (40 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the long-run determinants of the real exchange rate from a stock-flow perspective. The empirical analysis estimates a long-run relationship between the real exchange rate, net foreign assets and other factors affecting trade flows. Using postwar data for the United States and Japan, cointegration analysis supports the finding that the structural factors underlying each country's net trade and net foreign asset positions determine the long-run path for the real value of the dollar and the yen. The empirical analysis also provides estimates for the underlying stochastic trend in each real exchange rate series. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1994/090 Full text available on IMF http://elibrary.imf.org/view/journals/001/1994/090/001.1994.issue-090-en.xml IMF e-Library