Year: 1980
Type: article
Abstract: This paper develops and tests empirically a model to explain movements in the dollar's foreign exchange value during the flexible exchange rate period since early 1973. The model is designed movements in both the nominal and real exchange rates, where the real exchange rate is defined as the nominal rate devided by relative prices. The empirical application is to the foreign exchange value of the dollar against the basket of currencies of ten major industrial countries.
Authors: Peter Hooper, John E. Morton
Institutions: Federal Reserve, Federal Reserve Board of Governors
Language: English
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W3122810239