Foreign exchange rate and financial market imperfections

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Dong, Xue;

The thesis discusses exchange rate dynamics in a small open economy Real Business Cycle model with financial frictions, aiming to investigate whether financial frictions in the global capacity to bear exchange rate risk had influences on Sterling real exchange rate dyna... View more
  • References (219)
    219 references, page 1 of 22

    1Studies related to exchange rate and financial frictions include Gabaix and Maggiori (2016), Hau and Rey

    (2006), and Bruno and Shin (2014); Studies related to exchange rate and time-varying risk premium in the

    ifnancial market include Alvarez et al. (2007), Farhi and Gabaix (2015).

    1UK Balance of Payments, the Pink Book: 2016 Website: https://www.ons.gov.uk/economy/-

    nationalaccounts/balanceofpayments/bulletins/unitedkingdombalanceofpaymentsthepinkbook/2016 [1] Adolfson, M., Laséen, S., Lindé, J., & Villani, M. 2007. Bayesian estimation of an

    Economics, 72(2), pp.481-511. [2] Alexander, S. S. 1952. Effects of a Devaluation on a Trade Balance. Staff Papers, 2(2),

    pp.263-278. [3] Allen, P. R., & Kenen, P.B. 1980. Asset markets and exchange rates: Modelling an

    open economy. Pages pp.25-193 of: Asset Markets. Exchange Rates, and Economic

    Integration: A Synthesis. Cambridge: Cambridge University Press. [4] Alvarez, F., Atkeson, A., & Kehoe, P. J. 2007. If exchange rates are random walks,

    Review, 97(2), pp.339-345. [5] Alvarez, F., Atkeson, A., & Kehoe, P. J. 2009. Time-varying risk, interest rates, and

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