Fisher effect: de relatie tussen de nominale rentevoet en de inflatie.
E eEU −E EU
Interest Parity Condition: REU − RU S = US
E EU
US
US
Interest Parity Condition + E eEU −E EU
REU − RU S = US
E EU
US
+ρ
transactiekosten: US
Real Interest Parity Condi- q eU S −q U S
e e
rU S − rEU = EU
q US
EU
tion: EU
e e
Fisher-effect: REU − RU S = πEU,t − πU S,t
1+R
Real interest rate: r= 1+π −1
Expected real interest rate: re ≈ R − πe
LOP: Pi = Pi∗ × Eh/f
Absoluut PPP: De wisselkoers is gelijk aan de relatieve gemiddelde prijzen tussen landen.
P = P ∗ × Eh/f → The real exchange rate is equal to 1.
Relatief PPP: De verandering in de wisselkoers is gelijk aan de verandering van de relatieve prijzen.
E −Eh/f,t−1
πh − πf = h/f,t
Eh/f,t−1
E EU ,t+1 −E EU ,t
πEU,t+1 − πU S,t+1 = US
E EU ,t
US
US
e 1+Re
Exchange rate: E$/e = E$/e × 1+R$
E $ ×PEU
e
Real exchange rate: q US = PU S
EU
An economy’s long run equilibruim is the equilibrium that would occur if prices were perfectly flexible and always
adjusted immediately to preserve full employment.
De variabelen die de geaggregeerde geldvraag beïnvloeden:
− De rentevoet van niet-monetaire bezittingen
− Prijzen: hogere prijzen van goederen en diensten verhogen de geldvraag
− Inkomen: hoger inkomen leidt tot hogere vraag voor goederen en diensten en daarmee een hogere vraag naar
geld
Het geldaanbod heft invloed op de wisselkoers vanwege de starheid van prijzen op de korte termijn, en veranderingen
in de wisselkoers worden verzacht door prijsaanpassingen op de lange termijn.
1
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller studenteconometrics. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.75. You're not tied to anything after your purchase.