International interest rate linkages and the exchange rate regime
作者： David R. Johnson
DOI: 10.1016/0261-5606(92)90029-W
关键词: Economics 、 Average level 、 Regime change 、 Fixed exchange rates 、 Ex-ante 、 Exchange-rate regime 、 Interest rate 、 Econometrics 、 Variance (accounting) 、 Rational expectations 、 Macroeconomics
摘要: Abstract Return differentials between instruments denominated in Canadian dollars and American are investigated. The study compares the properties of return period fixed exchange rates during 1960s flexible 1970s 1980s. Both real nominal results indicate that change rate regime is not associated with a average level ex post Canada United States. Models which predict ante from available information rational expectations framework show surprisingly large amount structural stability across change. major impact on variance or differentials. (JEL E42, E58, G15).
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