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- Title
DÖVİZ KURLARINI AÇIKLAMAYA YÖNELİK YENİ YAKLAŞIMLAR.
- Authors
Öztürk, Nazim; Bayraktar, Yüksel
- Abstract
Exchange rate theories attempt to explain the structure of exchange rates, how these rates are determined, and the relationship between exchange rates and some macroeconomic variables such as money supply, interest rates, inflation, GDP, economic growth, international goods and capital movements. There are many exchange rate theories trying to explain the determinants of exchange rates in the literature. The international trade approach, and the purchasing power parity approach are known to be the traditional approachs. Due to the new developments in the exchange rates, traditional approachs become insufficient to explain the rates structure. Today, exchange rates can not be explained by just one simple theory since the social, the economical, and the political figures and their interdependencies begin to play important roles in the determinants of Exchange rates. This study analyses the evolution of the exchange rate theories and attempts to explain the new approaches in the literature such as Mundell-Fleming Model, monetarist approach, portfolio balance theory, money substitution approach, interest rate parity approach, rational expectation, new information approach, safe harboring approach, speculative bubles theory, and the microeconomic structure of exchange rate market.
- Subjects
FOREIGN exchange rates; FOREIGN exchange accounting; GROSS domestic product; MACROECONOMICS; ECONOMIC indicators; INTERNATIONAL trade; ECONOMIC development; ACCOUNTING
- Publication
Cumhuriyet University Journal of Economics & Administrative Sciences / Cumhuriyet Üniversitesi İktisadi ve İdari Bilimler Dergisi, 2010, Vol 11, Issue 1, p157
- ISSN
1303-1279
- Publication type
Article