The Exchange Rate And The Balance of Payments In The Short Run and in The Long Run: A Monetary Approach

  • Pentti J. K. Kouri


This paper analyzes, by way of a dynamic model, the role of momentary asset equilibrium and expectations in the determination of the exchange rate in the short run, and the role of the process of asset accumulation in the determination of the time path from momentary to long-run equilibrium.


Exchange Rate Monetary Policy Current Account Foreign Asset Foreign Exchange Market 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© The Scandinavian Journal of Economics 1977

Authors and Affiliations

  • Pentti J. K. Kouri
    • 1
    • 2
  1. 1.Stanford UniversityStanfordUSA
  2. 2.Institute for International Economic StudiesStockholmSweden

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