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The IMF fiscal impulses and the determination of the real exchange rate of the Spanish peseta

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  • Mariam Camarero

Abstract

In this paper a Keynesian model is applied for real exchange rate determination based on the concept of fiscal impulses. This model was proposed by Obstfeld (1985) and studies the effect of relative demand shocks on the real exchange rate.

Suggested Citation

  • Mariam Camarero, 2002. "The IMF fiscal impulses and the determination of the real exchange rate of the Spanish peseta," Applied Economics Letters, Taylor & Francis Journals, vol. 9(4), pages 235-240.
    • Handle: RePEc:taf:apeclt:v:9:y:2002:i:4:p:235-240
    DOI: 10.1080/13504850110057965
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    References listed on IDEAS

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    1. Asea, Patrick K & Mendoza, Enrique G, 1994. "The Balassa-Samuelson Model: A General-Equilibrium Appraisal," Review of International Economics, Wiley Blackwell, vol. 2(3), pages 244-267, October.
    2. Patrick K. Asea, 1994. "The Balassa-Samuelson Model: A General Equilibrium Appraisal," UCLA Economics Working Papers 709, UCLA Department of Economics.
    3. Maurice Obstfeld., 1993. "Model Trending Real Exchange Rates," Center for International and Development Economics Research (CIDER) Working Papers C93-011, University of California at Berkeley.
    4. Maurice Obstfeld, 1985. "Floating Exchange Rates: Experience and Prospects," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 16(2), pages 369-464.
    5. Maria Amparo Camarero Olivas, 1999. "Fiscal policy and real exchange rate: fiscal impulses or intertemporal approach?," Working Papers. Serie EC 1999-09, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    6. Chinn, Menzie David, 1997. "Paper pushers or paper money? Empirical assessment of fiscal and monetary models of exchange rate determination," Journal of Policy Modeling, Elsevier, vol. 19(1), pages 51-78, February.
    7. Meese, Richard A. & Rogoff, Kenneth, 1983. "Empirical exchange rate models of the seventies : Do they fit out of sample?," Journal of International Economics, Elsevier, vol. 14(1-2), pages 3-24, February.
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    Cited by:

    1. Mylonidis, Nikolaos & Paleologou, Suzanna-Maria, 2011. "The real uncovered interest parity: The case of Canada and the USA," Journal of Policy Modeling, Elsevier, vol. 33(2), pages 255-267, March.

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