IMF Working Papers

The Fundamental Determinants of the Real Exchange Rate of the U. S. Dollar Relative to Other G-7 Currencies

ByJerome L. Stein

August 1, 1995

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Format: Chicago

Jerome L. Stein "The Fundamental Determinants of the Real Exchange Rate of the U. S. Dollar Relative to Other G-7 Currencies", IMF Working Papers 1995, 081 (1995), accessed 12/22/2025, https://doi.org/10.5089/9781451955149.001

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.

Subject: Balance of payments, Current account, External debt, Financial services, Foreign exchange, Real effective exchange rates, Real exchange rates, Real interest rates

Keywords: Current account, interest rate, moving average, NATREX model, Real effective exchange rates, Real exchange rates, Real interest rates, real rate of interest, real value, U.S. dollar, WP

Notes

Examines the explanatory power of the NATREX model to explain the evolution of the real exchange rate of the U.S. dollar during the floating exchange rate period.