|
|
|
|
| LEADER |
02152nmm a2200481 u 4500 |
| 001 |
EB000924981 |
| 003 |
EBX01000000000000000718577 |
| 005 |
00000000000000.0 |
| 007 |
cr||||||||||||||||||||| |
| 008 |
150128 ||| eng |
| 020 |
|
|
|a 9781451937855
|
| 100 |
1 |
|
|a Gulde, Anne
|
| 245 |
0 |
0 |
|a Sticky Exchange Rates and Flexible Prices
|b A Heretic View From the Interwar Period
|c Anne Gulde, Holger Wolf
|
| 260 |
|
|
|a Washington, D.C.
|b International Monetary Fund
|c 1991
|
| 300 |
|
|
|a 74 pages
|
| 651 |
|
4 |
|a United Kingdom
|
| 653 |
|
|
|a Inflation
|
| 653 |
|
|
|a International Monetary Arrangements and Institutions
|
| 653 |
|
|
|a Exchange rate arrangements
|
| 653 |
|
|
|a Deflation
|
| 653 |
|
|
|a Gold
|
| 653 |
|
|
|a Currency
|
| 653 |
|
|
|a Investments: Metals
|
| 653 |
|
|
|a Metals and Metal Products
|
| 653 |
|
|
|a Cement
|
| 653 |
|
|
|a Glass
|
| 653 |
|
|
|a Price Level
|
| 653 |
|
|
|a Foreign Exchange
|
| 653 |
|
|
|a Commodities
|
| 653 |
|
|
|a Ceramics
|
| 653 |
|
|
|a Exchange rate flexibility
|
| 653 |
|
|
|a Real exchange rates
|
| 653 |
|
|
|a Investment & securities
|
| 653 |
|
|
|a Exchange rates
|
| 653 |
|
|
|a Foreign exchange
|
| 700 |
1 |
|
|a Wolf, Holger
|
| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
|
| 989 |
|
|
|b IMF
|a International Monetary Fund
|
| 490 |
0 |
|
|a IMF Working Papers
|
| 028 |
5 |
0 |
|a 10.5089/9781451937855.001
|
| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/1991/124/001.1991.issue-124-en.xml?cid=1000-com-dsp-marc
|x Verlag
|3 Volltext
|
| 082 |
0 |
|
|a 330
|
| 520 |
|
|
|a Real exchange rate variability tends to be higher under flexible than under fixed exchange rates. The neokeynesian view attributes the higher variability to the combination of volatile nominal exchange rates with sticky prices. The neoclassical approach regards an increased incidence of real shocks as the culprit. We test the crucial assumptions underlying the two models for the interwar period. Prices and exchange rates are found to be equally flexible. We hence reject the neokeynesian sticky price view for our sample period. In contrast, our results are consistent with, while not constituting evidence for, the neoclassical equilibrium approach
|