TY  - BOOK
AU  - Turtelboom,Bart
TI  - Consumption Smoothing and Exchange Rate Volatility
T2  - IMF Working Papers; Working Paper
SN  - 1451853041 :
SN  - 1018-5941
PY  - 1995///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Exchange Rate
KW  - imf
KW  - Exchange Rates
KW  - Foreign Asset
KW  - Net Foreign Asset
KW  - Real Exchange Rate
KW  - Germany
KW  - Japan
KW  - United States
N2  - This paper analyzes exchange rate behavior in a model where consumers trade goods to diversify shocks to their income. A model with traded and nontraded goods is simulated in a multilateral context based upon historical output correlations for the period 1970-92. Simulation results indicate that the observed volatility of multilateral real exchange rates for the United States, Germany and Japan is not inconsistent with exchange rate volatility implied by consumption-smoothing behavior
UR  - http://elibrary.imf.org/view/IMF001/01347-9781451853049/01347-9781451853049/01347-9781451853049.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451853049
ER  -