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In: Ekonomický časopis/Journal of Economics, vol. 55, no. 9
Josef Taušer

Tradiční teorie měnového kurzu v podmínkách ekonomické transformace

Details:

Year, pages: 2007, 886 - 904
Keywords: Keywords: exchange rate behavior, purchasing power parity, uncovered interest rate parity condition, monetary approach to the exchange rate, real and nominal convergence, institutional approach to the convergence JEL Classification: F41, F31
Article type: Vedecký článok

About article:

The paper contains a specific exchange rate model in the long run for the transitive economies where the key postulates of the established models such as Purchasing Power Parity, Uncovered Interest Rate Parity Condition and Monetary Approach seem to be slightly modified. The model is based on so called “convergence gap” which is determined by number of real factors both quantitative and qualitative. Under the conditions of transitive economies the exchange rates are systematically deviated from the parity. The deviation is a function of the convergence gap. The exchange rate of transitive economy is therefore func-tion of convergence gap, domestic price level and foreign price level. Since the convergence gap generally reflects the institutional structure of economy, the exchange rate is also function of legal and institutional aspects. The theoretical consequences and practical implications of this definition are discussed in the presented article.

How to cite:

ISO 690:
Taušer, J. 2007. Tradiční teorie měnového kurzu v podmínkách ekonomické transformace. In Ekonomický časopis/Journal of Economics, vol. 55, no.9, pp. 886-904. ISSN 0013-3035.

APA:
Taušer, J. (2007). Tradiční teorie měnového kurzu v podmínkách ekonomické transformace. Ekonomický časopis/Journal of Economics, 55(9), 886-904. ISSN 0013-3035.