Stock Prices, Real Exchange Rates, and Optimal Capital Accumulation.
This paper analyzes the dynamics of the real exchange rate and the price of equity for a small open economy using an optimizing model in which the process of capital accumulation entails adjustment costs. The analysis demonstrates that along an adjustment path toward long-run equilibrium, appreciati...
| 団体著者: | |
|---|---|
| フォーマット: | 雑誌 |
| 言語: | English |
| 出版事項: |
Washington, D.C. :
International Monetary Fund,
1988.
|
| シリーズ: | IMF Working Papers; Working Paper ;
No. 1988/031 |
| オンライン･アクセス: | Full text available on IMF |