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Exchange Rates in Project LINK

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Abstract

Project LINK is at once a global multinational model, a cooperative international research project, and a forum for research on aspects of international linkages. In the latter connection, papers on exchange rate models have been presented at past LINK meetings by Amano (1977), Armington (1976), Basevi (1980), Beenstock (1979), Helliwell (1979), Ranuzzi (1980), Sawyer (1980), and Weinberg (1977). This paper, however, is limited to a survey of the way in which exchange rates are determined in those national models included in the present LINK system for which rates are endogenous and to the multinational exchange-rate equation systems which have been estimated and simulated at LINK Central under the direction of Lawrence Klein. Interactions of exchange rates and other real and financial variables in the LINK models are also discussed in later sections.

Keywords

Exchange Rate Current Account Money Supply Purchase Power Parity Trade Balance 
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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References

  1. Amano, A. (1977) ‘Models of Exchange Rate Determination’, presented at Project LINK meeting, Kyoto, September.Google Scholar
  2. Armington, P. (1976) ‘A Model of Exchange Rate Movements in the Short-Run, Under Conditions of Managed Floating’, presented at Project LINK meeting, Venice, September.Google Scholar
  3. Basevi, G. (1980) ‘Econometric Analysis of Exchange Rate Determination Under Managed Floating’, presented at Project LINK meeting, Perugia, October.Google Scholar
  4. Beenstock, M. (1979) ‘Rational Expectations and the Structural Approach to Exchange Rate Determination’, presented at Project LINK meeting, Helsinki, August.Google Scholar
  5. Fair, R. (1979) ‘A Multicountry Econometric Model’, Working Paper No. 414, National Bureau of Economic Research, December.Google Scholar
  6. Filatov, V. and L. Klein (1981) ‘A Quick LINK Short Run Exchange Rate Model’, presented at Project LINK meeting, La Hulpe, September.Google Scholar
  7. Helliwell, J. (1979) ‘Policy Modelling of Foreign Exchange Rates’, presented at Project LINK meeting, Helsinki, August.Google Scholar
  8. Klein, L., S. Fardoust and V. Filatov (1981) ‘Purchasing Power Parity in a Medium Term Simulation of the World Economy’, presented at Project LINK meeting, La Hulpe, September.Google Scholar
  9. Ranuzzi, P. (1980) ‘A Progress Report on Monetary Linkages and Endogenization of Exchange Rates Within the Eurolink System’, presented at Project LINK meeting, Perugia, October.Google Scholar
  10. Sawyer, J. (1980) ‘Capital Flows and Exchange Rates in the Project LINK Country Models: A Status Report’, presented at Project LINK meeting, Perugia, October.Google Scholar
  11. Weinberg, C. (1977) ‘A Model of Wealth Power Parity for Exchange Rate Determination’, presented at Project LINK meeting, Kyoto, September.Google Scholar

Copyright information

© Paul De Grauwe and Theo Peeters 1983

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