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EBOOK
Author Towe, Christopher M., 1957-
Title Exchange rate "fundamentals" versus speculation : the case of Lebanon / prepared by Christopher M. Towe.
Imprint Washington, D.C. : International Monetary Fund, 1988.

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LOCATION CALL # STATUS MESSAGE
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Author Towe, Christopher M., 1957-
Series IMF working paper ; WP/88/109
IMF working paper ; WP/88/109.
Subject Foreign exchange -- Lebanon.
Alt Name International Monetary Fund,
Description 1 online resource (ii, 31 pages) : illustrations.
Note Online resource; title from PDF title page (IMF, viewed August 20, 2014).
Available in PDF, ePUB, and Mobi formats on the Internet.
Summary The exchange rate for the Lebanese pound experienced a protracted period of depreciation from end-1982 to November 1987, followed by a marked appreciation over the following six months. This paper investigates the competing hypotheses that the exchange rate over these two periods was driven by a speculative bubble versus?fundamental? economic variables. Reduced-form and time series models for the exchange rate are estimated and tested for nonstationarity. The results of these test suggest that the pound?s volatility in recent years was consistent with an excessive growth in domestic versus foreign currency denominated liquidity rather than speculation.
ISBN 1455218138
9781455218134
9781455218134
ISBN/ISSN 10.5089/9781455218134.001
OCLC # 883136849
Additional Format Print version: Towe, Christopher M. Exchange rate "fundamentals" versus speculation. [Washington, D.C.] : International Monetary Fund, 1988 (OCoLC)21868629



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