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150128 ||| eng |
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|a 9781451970203
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245 |
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|a Exchange Rate Expectations
|b Survey of Survey Studies
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 1990
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300 |
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|a 36 pages
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651 |
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|a United States
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|a Government and the Monetary System
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|a Payment Systems
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|a Investment
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|a Finance
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|a Return on investment
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|a Regimes
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|a Monetary economics
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|a Exchange rate adjustments
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|a Currency
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|a Intangible Capital
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|a National accounts
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|a Money
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|a International Financial Markets
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|a Currency markets
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|a Foreign Exchange
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|a Standards
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|a Depreciation
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|a Financial markets
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|a Saving and investment
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|a Investments: General
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|a Currencies
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|a Monetary Systems
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|a Macroeconomics
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|a Capacity
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|a Foreign exchange market
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|a Exchange rates
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|a Capital
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|a Money and Monetary Policy
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|a Finance: General
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|a Foreign exchange
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|a International Monetary Fund
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|a eng
|2 ISO 639-2
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|b IMF
|a International Monetary Fund
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|a IMF Working Papers
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|a 10.5089/9781451970203.001
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|u https://elibrary.imf.org/view/journals/001/1990/052/001.1990.issue-052-en.xml?cid=30254-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a This paper presents a brief survey of the empirical literature on survey-based exchange rate expectations. The literature in general supports the presence of a non-zero risk premium and rejects the hypothesis of rational expectations. The crucial result is that, while short-run expectations tend to move away from some long-run “normal” values, long-run expectations tend to regress toward them. If this nature of short-run expectations increases the volatility of exchange rate movements, there may be a basis for some official measure to minimize short-run exchange rate movements
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