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Interest rates and inflationary expectations: Long-run equilibrium and short-run adjustment

✍ Scribed by Bakhtiar Moazzami


Book ID
116134675
Publisher
Elsevier Science
Year
1990
Tongue
English
Weight
498 KB
Volume
14
Category
Article
ISSN
0378-4266

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## ABSTRACT We examine consistency properties of the exchange rate expectation formation process of short‐run and long‐run forecasts in the dollar/euro and yen/dollar market. Applying nonlinear consistency restrictions we show that in a simple expectation formation structure short‐run forecasts are