不对称对汇率决定的影响：基本面的作用

IF 5.6 2区经济学 Q1 BUSINESS, FINANCE Emerging Markets Review Pub Date : 2024-09-21 DOI:10.1016/j.ememar.2024.101206

Levent Korap

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引用次数: 0

摘要

本研究试图利用时间序列估算方法的最新发展，重新审视汇率决定模型。为此，我们针对土耳其里拉/美元的情况，研究了粘性价格货币汇率模型的有效性。考虑到线性和非线性建模方法的估计结果高度支持理论基础，并明确揭示了模型的非对称性质。本文推断，由于名义汇率似乎是由经济基本面决定的，因此不应将其用作具有长期视角的政策工具。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Impact of asymmetry on exchange rate determination: The role of fundamentals

This study tries to take a new look at the exchange rate determination model by employing recent developments in time series estimation methodologies. For this purpose, the validity of the sticky price monetary exchange rate model has been searched for the Turkish lira / US dollar case. Estimation results considering both linear and non–linear modeling approaches highly support the theoretical foundations and reveal explicitly the asymmetric nature of the model. The paper infers that since the nominal exchange rate seems to be determined through the economic fundamentals, it should not be used as a policy tool with a long–term perspective.

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来源期刊

Emerging Markets Review Multiple-

CiteScore

7.10

自引率

4.20%

发文量

审稿时长

100 days

期刊介绍： The intent of the editors is to consolidate Emerging Markets Review as the premier vehicle for publishing high impact empirical and theoretical studies in emerging markets finance. Preference will be given to comparative studies that take global and regional perspectives, detailed single country studies that address critical policy issues and have significant global and regional implications, and papers that address the interactions of national and international financial architecture. We especially welcome papers that take institutional as well as financial perspectives.