The complex dynamics of real exchange rates with countercyclical balance of trade

被引：0
|
作者：
Lai, CC
机构：
[1] Department of International Trade, TamKang University
[2] Chung-Li, 320, 4F, No. 82, Yuang-Hwa Road
来源：
OPEN ECONOMIES REVIEW | 1997年 / 8卷 / 04期
关键词：
balance of trade; business cycles; real exchange rates;
D O I：
10.1023/A:1008294009159
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We extend Dornbusch's (1973) model to determine whether the countercyclical trade balance which is often observed in real business cycle studies can be rationalized and show that the sum of export and import elasticities being less than one is responsible for the complex fluctuation of exchange rates within this exogenous-shock-free framework.
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页码：393 / 401
页数：9
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