Year: 1976
Type: article
Abstract: The monetary approach to the balance of payments has received considerable attention. However, most the empirical studies employ models of a small country with fixed exchange rates. Without relying on the small-country assumption, we derive a model to explain a measure of exchange market pressure that incorporates both exchange rate movements and official intervention. the models is used to analyze the post-war Canadian experience.
Authors: Lance Girton, Don E. Roper
Institutions: Federal Reserve, Federal Reserve Board of Governors
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W1513774498