Balance of Payments and the Foreign Exchange Market: A Dynamic Partial Equilibrium Model
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This paper develops a dynamic partial equilibrium model of the foreign exchange market extending the standard textbook model in two respects. First, capital account transactions are explicitly incorporated into the model, and secondly, 'rational' speculative behaviour is also introduced. At a point
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美国国家经济研究局创建时间：
1981-03-01
