Taylor Rules and the Deutschmark-Dollar Real Exchange Rate
Taylor Rules and the Deutschmark-Dollar Real Exchange Rate
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泰勒规则和德国马克-美元实际汇率
DOI：
10.1353/mcb.2006.0070
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发表时间：
2004
期刊：
影响因子：
--
通讯作者：
K. West
中科院分区：
文献类型：
--
作者：
Charles M. Engel;K. West
我们探讨货币政策的利率规则和真实的汇率行为之间的联系。利率规则与一些标准假设相结合，意味着真实的汇率偏离其稳定状态取决于通货膨胀和产出缺口差额加权总和的现值。权重是利率规则的参数的函数。对德国数据的初步研究为该模型提供了一些支持。
We explore the link between an interest rate rule for monetary policy and the behavior of the real exchange rate. The interest rate rule, in conjunction with some standard assumptions, implies that the deviation of the real exchange rate from its steady state depends on the present value of a weighted sum of inflation and output gap differentials. The weights are functions of the parameters of the interest rate rule. An initial look at German data yields some support for the model.