THE REAL EXCHANGE-RATE ENIGMA - A SAFE HAVEN SOLUTION FROM THE COLD-WAR ERA

Authors
AYANIAN R
Citation
R. Ayanian, THE REAL EXCHANGE-RATE ENIGMA - A SAFE HAVEN SOLUTION FROM THE COLD-WAR ERA, Defence economics, 5(1), 1994, pp. 51-65
Citations number
15
Categorie Soggetti
Economics
Journal title
Defence economics → ACNP
ISSN journal
10430717
Volume
5
Issue
1
Year of publication
1994
Pages
51 - 65
Database
ISI
SICI code
1043-0717(1994)5:1<51:TREE-A>2.0.ZU;2-B
Abstract
In this paper I shift the focus of real exchange rate analysis from co nventional macroeconomic variables, which have failed to explain chang es in floating real dollar exchange rates, to military security variab les, which show an uncanny ability to explain the pattern of floating real exchange rate changes among NATO-area floating currencies from ea rly 1973 through the failed Soviet coup, of August, 1991.