Information and exchange rate dynamics

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Roberts, Mark A. (Mark Andrew);
  • Subject: HB

Theoretical models of the exchange rate are developed where\ud information on the model is not fully available to agents. It is an\ud application of Benjamin Friedman's (1979) theme that full rational\ud expectations may be a possibility only in the long-run, even for\u... View more
  • References (20)
    20 references, page 1 of 2

    4.2 The Model 4.3 The Rational Expectations Equilibrium Case 4.4 The General Case 4.4.1 The Importance of Subjective Factors 4.4.2 A Representation of the Infinite Regress 4.4.3 The Existence of Equilibrium Outside REE 4.5 Consistent and Inconsistent Learning 4.6 Two Applications of Learning 4.6.1 Strategy One 4.6.2 Strategy Two 4.7 Some Further Considerations 4.7.1 The Individual Optimality of Inconsistent Learning 4.7.2 The Determinacy of the Inconsistent Forecast Function 4.7.3 Wealth Dynamics

    Appendices to Chapter 4

    Andersen, T.M. (1984), 'Recent developments in the efficient capital markets', Kredit and Kapital, 1985, 3, 347-371.

    Bilson, J. (1978), 'The monetary approach to the exchange rate: some evidence', IHF Staff Papers, 25, 48-75.

    Blanchard, O.J. (1979B), 'Speculative bubbles, crashes and rational expectations', Economic Letters, 3, 387-389.

    Blume, L.E., Bray, M.M. and Easley, D. (1982), 'Introduction to the stability of rational expectations equilibrium', Journal of Economic Theory, 26, 313-317.

    Bray, M.M. (1982), 'Learning, estimation and the stability of rational expectations', Journal of Economic Theory, 26, 318-339.

    Bray, M.M. and Savin, N.E. (1986), 'Rational expectations equilibria, learning and model specification', Econometrica, 54, 1129-1160.

    Brock, W. (1975), 'A simple perfect foresight monetary model', Journal of Monetary Economics, 1, 133-150.

    Burmeister, E. (1980), 'On some conceptual issues in rational expectations modelling', Journal of Honey, Credit and Banking, 12, 800-816.

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