Recent developments in international finance: A guide to research

被引:3
|
作者
Stein, JL
Paladino, G
机构
[1] Brown Univ, Providence, RI 02912 USA
[2] European Univ Inst, Florence, Italy
关键词
exchange rate; capital flows; foreign debt; balance of payments; current account;
D O I
10.1016/S0378-4266(97)00035-6
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
This is a critical evaluation of the state of the art in International Finance. Several points of reference are selected: The Mundell-Fleming-Branson (MFP) paradigm, the monetary model with purchasing power parity (PPP) as a long run anchor, the representative agent approach and the natural real exchange rate (NATREX) model. Their strengths and weaknesses are identified from both a theoretical and empirical point of view. We conclude with a suggestion of what is a fruitful explanation of medium to longer run movements in the real exchange rate and the current account. (C) 1998 Elsevier Science B.V. All rights reserved.
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页码:1685 / 1720
页数:36
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