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The Portfolio Balance Model of Exchange Rates

In: The Theory And Empirics Of Exchange Rates

Author

Listed:
  • Imad A Moosa

    (Monash University, Australia)

  • Razzaque H Bhatti

    (Gulf University for Science and Technology, Kuwait)

Abstract

The following sections are included:IntroductionThe Portfolio Balance Effect of Wealth and the Exchange RateThe Current Account in the Portfolio Balance ModelThe Structure of the Portfolio Balance ModelShort-Run Properties of the Portfolio Balance ModelStable Portfolio Balance and Short-Run Exchange Rate DeterminationMonetary Policy Effects on Exchange and Interest RatesMonetary Expansion via Open Market Purchases of Domestic BondsMonetary Expansion via Open Market Purchases of Foreign BondsSterilized Open Market Foreign Exchange OperationsA Rise in Wealth via Accumulation of Foreign AssetsFiscal Policy Effects on Exchange and Interest RatesMoney-Financed Government Budget DeficitBond-Financed Government Budget DeficitAlternative Specifications of the Portfolio Balance ModelA Synthesis of the Monetary and Portfolio Balance ModelsThe Portfolio Balance Model with a Banking SectorThe ModelThe Impact of Monetary Policy on Exchange and Lending RatesThe Portfolio Balance Model with Bank LendingRecapitulation

Suggested Citation

  • Imad A Moosa & Razzaque H Bhatti, 2009. "The Portfolio Balance Model of Exchange Rates," World Scientific Book Chapters, in: The Theory And Empirics Of Exchange Rates, chapter 8, pages 220-259, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812839541_0008
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