| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26797 |
| 来源ID | Working Paper 26797 |
| Uncovered Interest Parity, Forward Guidance, and the Exchange Rate | |
| Jordi Galí | |
| 发表日期 | 2020-03-02 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Under uncovered interest parity (UIP), the size of the effect on the real exchange rate of an anticipated change in real interest rate differentials is invariant to the horizon at which the change is expected. Empirical evidence using US, euro area and UK data points to a substantial deviation from that invariance prediction: expectations of interest rate differentials in the near (distant) future are shown to have much larger (smaller) effects on the real exchange rate than is implied by UIP. Some possible explanations are discussed. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Monetary Policy ; International Economics ; International Macroeconomics |
| URL | https://www.nber.org/papers/w26797 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584470 |
| 推荐引用方式 GB/T 7714 | Jordi Galí. Uncovered Interest Parity, Forward Guidance, and the Exchange Rate. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26797.pdf（371KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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