The true shadow price of foreign exchange

被引：0
|
作者：
Dusansky R. [1 ]
Franck D. [2 ]
Naqvi N. [3 ]
机构：
[1] University of Texas, Austin
[2] College of Business and Public Affairs, Business Administration Building, University of Tennessee at Martin, Martin
来源：
Journal of Economics and Finance | 2000年 / 24卷 / 2期
关键词：
Exchange Rate; Foreign Exchange; Money Supply; Foreign Currency; Shadow Price;
D O I：
10.1007/BF02752713
中图分类号：
学科分类号：
摘要：
For the last half century, trade theorists, development economists, and development practitioners have been calculating what was claimed to be the shadow price of scarce foreign exchange. In fact, what they have been calculating is the social value of the receipt of a unit of a numeraire good from abroad, typically obtained from real models. In our paper, we explicitly deal with a model of a monetized economy, and we develop formulas for the social value of a unit of foreign currency, which, in general, differ from the traditional formulas.
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页码：206 / 214
页数：8
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