메뉴 건너뛰기




Volumn , Issue , 2023, Pages 1-342

IMPERFECT KNOWLEDGE ECONOMICS: EXCHANGE RATES AND RISK

Author keywords

[No Author keywords available]

Indexed keywords


EID: 85198593143     PISSN: None     EISSN: None     Source Type: Book    
DOI: None     Document Type: Book
Times cited : (123)

References (336)
  • 1
    • 0003007882 scopus 로고
    • Asset Prices under Habit Formation and Catching Up with the Joneses
    • Abel, Andrew B. (1990), “Asset Prices under Habit Formation and Catching Up with the Joneses,” American Economic Review, 80, 38–42.
    • (1990) American Economic Review , vol.80
    • Abel, A.B.1
  • 2
    • 84978559324 scopus 로고
    • Can Small Deviations from Ratio­nality Make Significant Differences to Economic Equilibria?
    • Akerlof, George A., and Janet L. Yellen (1985), “Can Small Deviations from Ratio­nality Make Significant Differences to Economic Equilibria?” American Economic Review, 75, 708–21.
    • (1985) American Economic Review , vol.75
    • Akerlof, G.A.1    Yellen, J.L.2
  • 3
    • 38149145759 scopus 로고
    • Monetary/Asset Models of Ex­change Rate Determination: How Well Have They Performed in the 1980s?
    • Alexander, Don, and Lee R. Thomas, III (1987), “Monetary/Asset Models of Ex­change Rate Determination: How Well Have They Performed in the 1980s?” International Journal of Forecasting, 3, 53–64.
    • (1987) International Journal of Forecasting , vol.3
    • Alexander, D.1    Thomas, L.R.2
  • 4
    • 0002356273 scopus 로고
    • Charts, Noise and Fundamentals in the London Foreign Exchange Market
    • Allen, Helen, and Mark P. Taylor (1990), “Charts, Noise and Fundamentals in the London Foreign Exchange Market,” Economic Journal, 100, 49–59.
    • (1990) Economic Journal , vol.100
    • Allen, H.1    Taylor, M.P.2
  • 6
    • 84924274137 scopus 로고    scopus 로고
    • Central Banks Eye Norway’s Clarity on Rates
    • May 25
    • Atkins, Ralph (2006), “Central Banks Eye Norway’s Clarity on Rates,” Financial Times, May 25, 15.
    • (2006) Financial Times
    • Atkins, R.1
  • 8
    • 84935813834 scopus 로고
    • Empirical Models of the Exchange Rate: Separating the Wheat from the Chaff
    • Backus, David (1984), “Empirical Models of the Exchange Rate: Separating the Wheat from the Chaff,” Canadian Journal of Economics, 17, 824–46.
    • (1984) Canadian Journal of Economics , vol.17
    • Backus, D.1
  • 9
    • 85198579833 scopus 로고
    • Accounting for Forward Rates in Markets for Foreign Exchange
    • Backus, David, Allan Gregory, and Chris Telmer (1993), “Accounting for Forward Rates in Markets for Foreign Exchange,” Economic Journal, 100 (suppl.), 49–59.
    • (1993) Economic Journal , vol.100
    • Backus, D.1    Gregory, A.2    Telmer, C.3
  • 10
    • 0001168750 scopus 로고
    • The Search for Equilibrium Relationships in International Finance: The Case of the Monetary Model
    • Baillie, Richard T., and Rowena A. Pecchenino (1991), “The Search for Equilibrium Relationships in International Finance: The Case of the Monetary Model,” Journal of International Money and Finance, 10, 582–93.
    • (1991) Journal of International Money and Finance , vol.10
    • Baillie, R.T.1    Pecchenino, R.A.2
  • 11
    • 0001399205 scopus 로고
    • The Purchasing Power Parity Doctrine: A Reappraisal
    • Balassa, Bela (1964), “The Purchasing Power Parity Doctrine: A Reappraisal,” Journal of Political Economy, 72, 584–96.
    • (1964) Journal of Political Economy , vol.72
    • Balassa, B.1
  • 12
    • 0039739798 scopus 로고    scopus 로고
    • Mental Accounting, Loss Aversion, and Individual Stock Returns
    • Barberis, Nicholas C., and Ming Huang (2001), “Mental Accounting, Loss Aversion, and Individual Stock Returns,” Journal of Finance, 56 1247–92.
    • (2001) Journal of Finance , vol.56
    • Barberis, N.C.1    Huang, M.2
  • 13
    • 0042350815 scopus 로고    scopus 로고
    • A Survey of Behavioral Fi­nance
    • George Constantinides, Milton Harris, and Rene Stulz (eds.), Amsterdam: North-Holland
    • Barberis, Nicholas C., and Richard H. Thaler (2003), “A Survey of Behavioral Fi­nance,” in George Constantinides, Milton Harris, and Rene Stulz (eds.), Hand­book of the Economics of Finance, Amsterdam: North-Holland, 1051–121.
    • (2003) Hand­book of the Economics of Finance
    • Barberis, N.C.1    Thaler, R.H.2
  • 16
    • 29144475466 scopus 로고    scopus 로고
    • Are Real Exchange Rates Nonlinear or Nonstationary? Evidence from a New Threshold Unit Root Test
    • Basci, Erdem, and Mehmet Caner (2005), “Are Real Exchange Rates Nonlinear or Nonstationary? Evidence from a New Threshold Unit Root Test,” Studies in Nonlinear Dynamics and Econometrics, 9(4), 1–19.
    • (2005) Studies in Nonlinear Dynamics and Econometrics , vol.9 , Issue.4
    • Basci, E.1    Caner, M.2
  • 17
    • 45149143904 scopus 로고
    • Business Cycles and the Exchange­Rate System
    • Baxter, Marianne, and Alan C. Stockman (1989), “Business Cycles and the Exchange­Rate System,” Journal of Monetary Economics, 23, 377–400.
    • (1989) Journal of Monetary Economics , vol.23
    • Baxter, M.1    Stockman, A.C.2
  • 19
    • 0031236501 scopus 로고    scopus 로고
    • The Implications of First-Order Risk Aversion for Asset Market Risk Premiums on Biases in the Measurement of Foreign Exchange Risk Premiums
    • Bekaert, Geert, Robert J. Hodrick, and David A. Marshall (1997), “The Implications of First-Order Risk Aversion for Asset Market Risk Premiums on Biases in the Measurement of Foreign Exchange Risk Premiums,” Journal of Monetary Econom­ics, 40, 3–39.
    • (1997) Journal of Monetary Econom­ics , vol.40
    • Bekaert, G.1    Hodrick, R.J.2    Marshall, D.A.3
  • 20
    • 84906006114 scopus 로고
    • Myopic Loss Aversion and the Equity Premium Puzzle
    • Benartzi, Shlomo, and Richard H. Thaler (1995), “Myopic Loss Aversion and the Equity Premium Puzzle,” Quarterly Journal of Economics, 110, 73–92.
    • (1995) Quarterly Journal of Economics , vol.110
    • Benartzi, S.1    Thaler, R.H.2
  • 21
    • 1642542021 scopus 로고    scopus 로고
    • Real Exchange Rate Persistence and Monetary Policy Rules
    • Benigno, Gianluca (2004), “Real Exchange Rate Persistence and Monetary Policy Rules,” Journal of Monetary Economics, 51, 473–502.
    • (2004) Journal of Monetary Economics , vol.51
    • Benigno, G.1
  • 22
    • 0040271450 scopus 로고    scopus 로고
    • The Exchange Rate in a Model of Pricing-to-Market
    • Betts, Caroline, and Michael B. Devereux (1996), “The Exchange Rate in a Model of Pricing-to-Market,” European Economic Review, 40, 1007–22.
    • (1996) European Economic Review , vol.40
    • Betts, C.1    Devereux, M.B.2
  • 23
    • 0033970641 scopus 로고    scopus 로고
    • Exchange Rate Dynamics in a Model of Pricing-to-Market
    • Betts, Caroline, and Michael B. Devereux (2000), “Exchange Rate Dynamics in a Model of Pricing-to-Market,” Journal of International Economics, 50, 215–44.
    • (2000) Journal of International Economics , vol.50
    • Betts, C.1    Devereux, M.B.2
  • 24
    • 0002836172 scopus 로고
    • The Monetary Approach to the Exchange Rate: Some Empirical Evidence
    • (a)
    • Bilson, John F. O. (1978a), “The Monetary Approach to the Exchange Rate: Some Empirical Evidence,” International Monetary Fund Staff Papers, 25, 48–75.
    • (1978) International Monetary Fund Staff Papers , vol.25
    • Bilson, J.F.O.1
  • 25
    • 85099272104 scopus 로고
    • Rational Expectations and the Exchange Rate
    • (b), in Jacob Frenkel and Harry Johnson (eds.), Reading, Penn.: Addison-Wesley
    • Bilson, John F. O. (1978b), “Rational Expectations and the Exchange Rate,” in Jacob Frenkel and Harry Johnson (eds.), The Economics of Exchange Rates, Reading, Penn.: Addison-Wesley, 75–95.
    • (1978) The Economics of Exchange Rates
    • Bilson, J.F.O.1
  • 26
    • 0001660278 scopus 로고
    • The Speculative Efficiency Hypothesis
    • Bilson, John F. O. (1981), “The Speculative Efficiency Hypothesis,” Journal of Business, 54, 435–51.
    • (1981) Journal of Business , vol.54
    • Bilson, J.F.O.1
  • 28
    • 0001866008 scopus 로고
    • Bubbles, Rational Expectations and Financial Markets
    • P. Wachtel (ed.), Lexington, Mass.: Lexington Books
    • Blanchard, Olivier, J., and Mark Watson (1982), “Bubbles, Rational Expectations and Financial Markets,” in P. Wachtel (ed.), Crises in the Economic and Financial Structure, Lexington, Mass.: Lexington Books, 295–316.
    • (1982) Crises in the Economic and Financial Structure
    • Blanchardolivier, J.1    Watson, M.2
  • 29
    • 32344445673 scopus 로고    scopus 로고
    • NBER, Working Paper 11137, Cambridge Mass.: Na­tional Bureau of Economic Research
    • Blanchard, Olivier J., Francesco Giavazzi, and Filipa Sa (2005), “The U.S. Current Account and the Dollar,” NBER, Working Paper 11137, Cambridge Mass.: Na­tional Bureau of Economic Research.
    • (2005) The U.S. Current Account and the Dollar
    • Blanchard, O.J.1    Giavazzi, F.2    Sa, F.3
  • 30
    • 34848900983 scopus 로고
    • ARCH Modeling in Finance: A Review of Theory and Empirical Evidence
    • Bollerslev, Tim, Ray Y. Chou, and Kenneth F. Kroner (1992), “ARCH Modeling in Finance: A Review of Theory and Empirical Evidence,” Journal of Econometrics, 52, 5–59.
    • (1992) Journal of Econometrics , vol.52
    • Bollerslev, T.1    Chou, R.Y.2    Kroner, K.F.3
  • 31
    • 0001223082 scopus 로고
    • Off the Mark: Lessons for Exchange Rate Modelling
    • Boothe, Paul, and Debra Glassman (1987), “Off the Mark: Lessons for Exchange Rate Modelling,” Oxford Economic Papers, 39, 443–57.
    • (1987) Oxford Economic Papers , vol.39
    • Boothe, P.1    Glassman, D.2
  • 32
    • 38249034751 scopus 로고
    • Tests of the Performance of Reduced-Form Exchange Rate Models
    • Boughton, John M. (1987), “Tests of the Performance of Reduced-Form Exchange Rate Models,” Journal of International Economics, 23, 41–56.
    • (1987) Journal of International Economics , vol.23
    • Boughton, J.M.1
  • 33
    • 77956866132 scopus 로고
    • The Specification and Influ­ence of Asset Markets
    • Ronald W. Jones and Peter B. Kenen (eds.), Amsterdam: North-Holland
    • Branson, William H., and Dale W. Henderson (1985), “The Specification and Influ­ence of Asset Markets,” in Ronald W. Jones and Peter B. Kenen (eds.), Handbook of International Economics, vol. II, Amsterdam: North-Holland, 749–805.
    • (1985) Handbook of International Economics , vol.2
    • Branson, W.H.1    Henderson, D.W.2
  • 34
    • 0000921080 scopus 로고    scopus 로고
    • Heterogeneous Beliefs and Routes to Chaos in a Simple Asset Pricing Model
    • Brock, William, and Cars H. Hommes (1998), “Heterogeneous Beliefs and Routes to Chaos in a Simple Asset Pricing Model,” Journal of Economic Dynamics and Control, 22, 1235–74.
    • (1998) Journal of Economic Dynamics and Control , vol.22
    • Brock, W.1    Hommes, C.H.2
  • 35
    • 0000473798 scopus 로고
    • Techniques for Testing the Con­stancy of Regression Relationships over Time (with discussion)
    • Brown, R. L., J. Durbin, and J. M. Evans (1975), “Techniques for Testing the Con­stancy of Regression Relationships over Time (with discussion),” Journal of the Royal Statistical Society, B, 37, 149–92.
    • (1975) Journal of the Royal Statistical Society , vol.B , Issue.37
    • Brown, R.L.1    Durbin, J.2    Evans, J.M.3
  • 36
    • 0002373493 scopus 로고
    • The Monetary Dynamics of Hyperinflation
    • Milton Fried­man (ed.), Chicago: University of Chicago Press
    • Cagan, Phillip (1956), “The Monetary Dynamics of Hyperinflation,” in Milton Fried­man (ed.), Studies in the Quantity Theory of Money, Chicago: University of Chicago Press, 25–117.
    • (1956) Studies in the Quantity Theory of Money
    • Cagan, P.1
  • 37
    • 48749143178 scopus 로고
    • Staggered Prices in a Utility-Maximizing Framework
    • (a)
    • Calvo, Guillermo A. (1983a), “Staggered Prices in a Utility-Maximizing Framework,” Journal of Monetary Economics, 12, 983–98.
    • (1983) Journal of Monetary Economics , vol.12
    • Calvo, G.A.1
  • 38
    • 0002812484 scopus 로고
    • Staggered Contracts and Exchange Rate Policy
    • (b), in Jacob A. Frenkel (ed.), Chicago: Uni­versity of Chicago Press
    • Calvo, Guillermo A. (1983b), “Staggered Contracts and Exchange Rate Policy,” in Jacob A. Frenkel (ed.), Exchange Rates and International Macroeconomics, Chicago: Uni­versity of Chicago Press, 235–52.
    • (1983) Exchange Rates and International Macroeconomics
    • Calvo, G.A.1
  • 39
    • 84890743754 scopus 로고    scopus 로고
    • Behavioral Economics: Past, Present, Future
    • Colin F. Camerer, George Loewenstein, and Matthew Rabin (eds.), Princeton, N.J.: Princeton University Press
    • Camerer, Colin F., and George Loewenstein (2004), “Behavioral Economics: Past, Present, Future,” in Colin F. Camerer, George Loewenstein, and Matthew Rabin (eds.), Advances in Behavioral Economics, Princeton, N.J.: Princeton University Press, 3–51.
    • (2004) Advances in Behavioral Economics
    • Camerer, C.F.1    Loewenstein, G.2
  • 40
    • 0032771542 scopus 로고    scopus 로고
    • By Force of Habit: A Consump­tion-Based Explanation of Aggregate Stock-Market Behavior
    • Campbell, John Y., and John H. Cochrane (1999), “By Force of Habit: A Consump­tion-Based Explanation of Aggregate Stock-Market Behavior,” Journal of Political Economy, 107, 205–51.
    • (1999) Journal of Political Economy , vol.107
    • Campbell, J.Y.1    Cochrane, J.H.2
  • 41
    • 84977717068 scopus 로고
    • Stock Prices, Earnings and Ex­pected Dividends
    • Campbell, John Y., and Robert J. Shiller (1988), “Stock Prices, Earnings and Ex­pected Dividends,” Journal of Finance, 43, 661–76.
    • (1988) Journal of Finance , vol.43
    • Campbell, J.Y.1    Shiller, R.J.2
  • 42
    • 0040250342 scopus 로고    scopus 로고
    • Valuation Ratios and the Long-Run Stock Market Outlook
    • Campbell, John Y., and Robert J. Shiller (1998), “Valuation Ratios and the Long-Run Stock Market Outlook,” Journal of Portfolio Management, 24, 11–26.
    • (1998) Journal of Portfolio Management , vol.24
    • Campbell, J.Y.1    Shiller, R.J.2
  • 43
    • 0000013018 scopus 로고    scopus 로고
    • Asset Pricing with Distorted Beliefs: Are Equity Returns Too Good to Be True?
    • Cecchetti, Stephen G., Pok-sang Lam, and Nelson C. Mark (2000), “Asset Pricing with Distorted Beliefs: Are Equity Returns Too Good to Be True?” American Economic Review, 90, 787–805.
    • (2000) American Economic Review , vol.90
    • Cecchetti, S.G.1    Lam, P.-S.2    Mark, N.C.3
  • 44
    • 0036655918 scopus 로고    scopus 로고
    • Can Sticky Price Mod­els Generate Volatile and Persistent Real Exchange Rates?
    • Chari, V. V., Patrick J. Kehoe, and Ellen R. McGrattan (2002), “Can Sticky Price Mod­els Generate Volatile and Persistent Real Exchange Rates?” Review of Economic Studies, 69, 533–63.
    • (2002) Review of Economic Studies , vol.69
    • Chari, V.V.1    Kehoe, P.J.2    McGrattan, E.R.3
  • 45
    • 0036704136 scopus 로고    scopus 로고
    • Understanding Social Preferences with Simple Tests
    • Charness, Gary, and Matthew Rabin (2002), “Understanding Social Preferences with Simple Tests,” Quarterly Journal of Economics 117, 817–69.
    • (2002) Quarterly Journal of Economics , vol.117
    • Charness, G.1    Rabin, M.2
  • 46
    • 0008775889 scopus 로고    scopus 로고
    • Currency Traders and Exchange Rate Dynamics: A Survey of the U.S. Market
    • Cheung, Yin-Wong, and Menzie D. Chinn (2001), “Currency Traders and Exchange Rate Dynamics: A Survey of the U.S. Market,” Journal of International Money and Finance, 20, 439–71.
    • (2001) Journal of International Money and Finance , vol.20
    • Cheung, Y.-W.1    Chinn, M.D.2
  • 47
    • 0042532767 scopus 로고    scopus 로고
    • Foreign Exchange Traders in Hong Kong, Tokyo and Singapore: A Survey Study
    • Cheung, Yin-Wong, and Clement Yuk-Pang Wong (1999), “Foreign Exchange Traders in Hong Kong, Tokyo and Singapore: A Survey Study,” Advances in Pacific Basin Financial Markets, 5, 111–34.
    • (1999) Advances in Pacific Basin Financial Markets , vol.5
    • Cheung, Y.-W.1    Wong, C.Y.-P.2
  • 48
    • 0033938149 scopus 로고    scopus 로고
    • A Survey of Market Participants’ Views on Exchange Rate Dynam­ics
    • Cheung, Yin-Wong, and Clement Yuk-Pang Wong (2000), “A Survey of Market Participants’ Views on Exchange Rate Dynam­ics,” Journal of International Economics, 51, 401–19.
    • (2000) Journal of International Economics , vol.51
    • Cheung, Y.-W.1    Wong, C.Y.-P.2
  • 51
    • 0001126361 scopus 로고
    • Banking on Currency Forecasts: Is Change in Money Predictable?
    • Chinn, Menzie, and Richard Meese (1995), “Banking on Currency Forecasts: Is Change in Money Predictable?” Journal of International Economics, 38, 161–78.
    • (1995) Journal of International Economics , vol.38
    • Chinn, M.1    Meese, R.2
  • 52
    • 0013170639 scopus 로고    scopus 로고
    • Exchange Rates and Economic Fundamentals: A Methodological Comparison of BEERs and FEERs
    • Ronald MacDonald and Jerome Stein (eds.), Amsterdam: Kluwer
    • Clark, Peter B., and Ronald MacDonald (1999), “Exchange Rates and Economic Fundamentals: A Methodological Comparison of BEERs and FEERs,” in Ronald MacDonald and Jerome Stein (eds.), Equilibrium Exchange Rates, Amsterdam: Kluwer, 285–322.
    • (1999) Equilibrium Exchange Rates
    • Clark, P.B.1    Macdonald, R.2
  • 53
    • 84935322716 scopus 로고
    • Habit Formation: A Resolution of the Equity Premium Puzzle
    • Constantinides, George M. (1990), “Habit Formation: A Resolution of the Equity Premium Puzzle,” Journal of Political Economy, 98, 519–43.
    • (1990) Journal of Political Economy , vol.98
    • Constantinides, G.M.1
  • 54
    • 0008738955 scopus 로고
    • Money Supply Announcements, Interest Rates, and Foreign Exchange
    • Cornell, Bradford (1982), “Money Supply Announcements, Interest Rates, and Foreign Exchange,” Journal of International Money and Finance, 1, 201–8.
    • (1982) Journal of International Money and Finance , vol.1
    • Cornell, B.1
  • 55
    • 84977360467 scopus 로고
    • A Note on Exchange-Rate Expec­tations and Nominal Interest Rate Differentials: A Test of the Fisher Hypothesis
    • Cumby, Robert E., and Maurice Obstfeld (1981), “A Note on Exchange-Rate Expec­tations and Nominal Interest Rate Differentials: A Test of the Fisher Hypothesis,” Journal of Finance, 36, 697–703.
    • (1981) Journal of Finance , vol.36
    • Cumby, R.E.1    Obstfeld, M.2
  • 56
    • 0030167452 scopus 로고    scopus 로고
    • Maximum Likelihood Estimation of Cointegration in Exchange Rate Models for Seven Inflationary OECD Countries
    • Cushman, David, Sang S. Lee, and Thorsteinn Thorgeirsson (1996), “Maximum Likelihood Estimation of Cointegration in Exchange Rate Models for Seven Inflationary OECD Countries,” Journal of International Money and Finance, 15, 337–68.
    • (1996) Journal of International Money and Finance , vol.15
    • Cushman, D.1    Lee, S.S.2    Thorgeirsson, T.3
  • 57
    • 24044504223 scopus 로고
    • Betting on Trends: Intuitive Forecasts of Financial Risk and Return
    • De Bont, F. M. Werner (1993), “Betting on Trends: Intuitive Forecasts of Financial Risk and Return,” International Journal of Forecasting, 9, 355–71.
    • (1993) International Journal of Forecasting , vol.9
    • De, B.1    Werner, F.M.2
  • 58
    • 14844344994 scopus 로고    scopus 로고
    • Heterogeneity of Agents, Trans­actions Costs and the Exchange Rate
    • De Grauwe, Paul, and Marianna Grimaldi (2005), “Heterogeneity of Agents, Trans­actions Costs and the Exchange Rate,” Journal of Economic Dynamics and Control, 29, 691–719.
    • (2005) Journal of Economic Dynamics and Control , vol.29
    • Degrauwe, P.1    Grimaldi, M.2
  • 61
    • 28844438688 scopus 로고    scopus 로고
    • Exchange Rate Puzzles: A Tale of Switching Attractors
    • De Grauwe, Paul, Roberto Diece, and Marianna Grimaldi (2006), “Exchange Rate Puzzles: A Tale of Switching Attractors,” European Economic Review, 50, 1–33.
    • (2006) European Economic Review , vol.50
    • De, G.1    Paul, R.D.2    Grimaldi, M.3
  • 63
    • 84977712440 scopus 로고
    • Positive Feedback Investment Strategies and Destabilizing Rational Speculation
    • (b)
    • DeLong, Bradford J., Andrei Shleifer, Lawrence H. Summers, and Robert J. Wald­man (1990b), “Positive Feedback Investment Strategies and Destabilizing Rational Speculation,” Journal of Finance, 45, 375–95.
    • (1990) Journal of Finance , vol.45
    • Delong, B.J.1    Shleifer, A.2    Summers, L.H.3    Robert, J.W.-M.4
  • 64
    • 0036340669 scopus 로고    scopus 로고
    • Exchange Rate Pass-Through, Exchange Rate Volatility, and Exchange Rate Disconnect
    • Devereux, Michael B., and Charles Engel (2002), “Exchange Rate Pass-Through, Exchange Rate Volatility, and Exchange Rate Disconnect,” Journal of Monetary Economics, 49, 913–40.
    • (2002) Journal of Monetary Economics , vol.49
    • Devereux, M.B.1    Engel, C.2
  • 65
    • 0000472488 scopus 로고
    • Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root
    • Dickey, David A., and Wayne A. Fuller (1981), “Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root,” Econometrica, 49, 1057–72.
    • (1981) Econometrica , vol.49
    • Dickey, D.A.1    Fuller, W.A.2
  • 66
    • 0001809375 scopus 로고
    • A Portfolio-Balance Rational Expecta­tions Model of the Dollar-Mark Exchange Rate
    • Dooley, Michael P., and Peter Isard (1982), “A Portfolio-Balance Rational Expecta­tions Model of the Dollar-Mark Exchange Rate,” Journal of International Econom­ics, 12, 257–76.
    • (1982) Journal of International Econom­ics , vol.12
    • Dooley, M.P.1    Isard, P.2
  • 67
    • 0000852872 scopus 로고
    • Expectations and Exchange Rate Dynamics
    • Dornbusch, Rudiger (1976), “Expectations and Exchange Rate Dynamics,” Journal of Political Economy, 84, 1161–74.
    • (1976) Journal of Political Economy , vol.84
    • Dornbusch, R.1
  • 70
    • 0346491643 scopus 로고
    • Exchange Rate Risk and the Macroeconomics of Exchange Rate Determination
    • (b), in R. Hawkins, R. Levich, and C. G. Wihlborg (eds.), Greenwich, Conn.: JAI Press
    • Dornbusch, Rudiger (1983b), “Exchange Rate Risk and the Macroeconomics of Exchange Rate Determination,” in R. Hawkins, R. Levich, and C. G. Wihlborg (eds.), The Inter­nationalization of Financial Markets and National Economic Policy, vol. 3, Greenwich, Conn.: JAI Press, 3–27.
    • (1983) The Inter­nationalization of Financial Markets and National Economic Policy , vol.3
    • Dornbusch, R.1
  • 71
  • 72
    • 0001614222 scopus 로고
    • Real Exchange Rates and Macroeconomics: A Selective Survey,”
    • Dornbusch, Rudiger (1989), “Real Exchange Rates and Macroeconomics: A Selective Survey,” Scandinavian Journal of Economics, 91, 401–32.
    • (1989) Scandinavian Journal of Economics , vol.91
    • Dornbusch, R.1
  • 73
    • 0007536651 scopus 로고
    • The Flexible Exchange Rate Sys­tem: Experience and Alternatives
    • Jeffrey A. Frankel (ed.), Cambridge, Mass.: MIT Press, Originally published in Silvio Borner (ed.), International Finance and Trade, London: International Economics Asso­ciation and Macmillan Press, 1988
    • Dornbusch, Rudiger, and Jeffrey A. Frankel (1995), “The Flexible Exchange Rate Sys­tem: Experience and Alternatives,” in Jeffrey A. Frankel (ed.), On Exchange Rates, Cambridge, Mass.: MIT Press, 25–39. Originally published in Silvio Borner (ed.), International Finance and Trade, London: International Economics Asso­ciation and Macmillan Press, 1988.
    • (1995) On Exchange Rates
    • Dornbusch, R.1    Frankel, J.A.2
  • 75
    • 0000522890 scopus 로고
    • Dynamic Equilibrium and the Real Exchange Rate in a Spatially Separated World
    • Dumas, Bernard (1992), “Dynamic Equilibrium and the Real Exchange Rate in a Spatially Separated World,” Review of Financial Studies, 5, 153–80.
    • (1992) Review of Financial Studies , vol.5
    • Dumas, B.1
  • 76
    • 0002168065 scopus 로고
    • Conservatism in Human Information Processing
    • Ben­jamin Kleinmuth (ed.), New York: John Wiley & Sons
    • Edwards, Ward (1968), “Conservatism in Human Information Processing,” in Ben­jamin Kleinmuth (ed.), Formal Representation of Human Judgement, New York: John Wiley & Sons, 17–52.
    • (1968) Formal Representation of Human Judgement
    • Edwards, W.1
  • 77
    • 84959805338 scopus 로고
    • Some Empirical Evidence on the Effects of Monetary Policy Shocks on Exchange Rates
    • Eichenbaum, Martin, and Charles L. Evans (1995), “Some Empirical Evidence on the Effects of Monetary Policy Shocks on Exchange Rates,” Quarterly Journal of Economics, 110, 975–1009.
    • (1995) Quarterly Journal of Economics , vol.110
    • Eichenbaum, M.1    Evans, C.L.2
  • 78
    • 84957363402 scopus 로고
    • Risk, Ambiguity and the Savage Axioms
    • Ellsberg, Daniel (1961), “Risk, Ambiguity and the Savage Axioms,” Quarterly Journal of Economics, 75, 643–69.
    • (1961) Quarterly Journal of Economics , vol.75
    • Ellsberg, D.1
  • 79
    • 43949170301 scopus 로고
    • Real Exchange Rates and Relative Prices
    • Engel, Charles M. (1993), “Real Exchange Rates and Relative Prices,” Journal of Monetar y Economics, 32, 35–50.
    • (1993) Journal of Monetar Y Economics , vol.32
    • Engel, C.M.1
  • 80
    • 0030163502 scopus 로고    scopus 로고
    • The Forward Discount Anomaly and the Risk Premium: A Survey of Recent Evidence
    • Engel, Charles M. (1996), “The Forward Discount Anomaly and the Risk Premium: A Survey of Recent Evidence,” Journal of Empirical Finance, 3, 123–91.
    • (1996) Journal of Empirical Finance , vol.3
    • Engel, C.M.1
  • 81
    • 0032870113 scopus 로고    scopus 로고
    • Accounting for U.S. Real Exchange Rate Changes
    • Engel, Charles M. (1999), “Accounting for U.S. Real Exchange Rate Changes,” Journal of Political Economy, 107, 507–38.
    • (1999) Journal of Political Economy , vol.107
    • Engel, C.M.1
  • 82
    • 0033884338 scopus 로고    scopus 로고
    • Local-Currency Pricing and the Choice of Exchange-Rate Regime
    • Engel, Charles M. (2000), “Local-Currency Pricing and the Choice of Exchange-Rate Regime,” European Economic Review, 44, 1449–72.
    • (2000) European Economic Review , vol.44
    • Engel, C.M.1
  • 83
    • 0001910895 scopus 로고
    • Why Interest Rates React to Money Supply Announcements: An Explanation from the Foreign Exchange Market
    • Engel, Charles M., and Jeffrey A. Frankel (1984), “Why Interest Rates React to Money Supply Announcements: An Explanation from the Foreign Exchange Market,” Journal of Monetar y Economics, 13, 31–39.
    • (1984) Journal of Monetar Y Economics , vol.13
    • Engel, C.M.1    Frankel, J.A.2
  • 84
    • 0000230606 scopus 로고
    • Long Swings in the Exchange Rate: Are They in the Data and Do Markets Know It?
    • Engel, Charles M., and James D. Hamilton (1990), “Long Swings in the Exchange Rate: Are They in the Data and Do Markets Know It?” American Economic Review, 80, 689–713.
    • (1990) American Economic Review , vol.80
    • Engel, C.M.1    Hamilton, J.D.2
  • 85
    • 84986348753 scopus 로고
    • Tests of the International CAPM with Time-Varying Covariances
    • Engel, Charles M., and Anthony P. Rodrigues (1989), “Tests of the International CAPM with Time-Varying Covariances,” Journal of Applied Econometrics, 4, 119–38.
    • (1989) Journal of Applied Econometrics , vol.4
    • Engel, C.M.1    Rodrigues, A.P.2
  • 87
    • 0034806443 scopus 로고    scopus 로고
    • Deviations from Purchasing Power Parity: Causes and Welfare Costs
    • Engel, Charles M. (2001), “Deviations from Purchasing Power Parity: Causes and Welfare Costs,” Journal of International Economics, 55, 29–57.
    • (2001) Journal of International Economics , vol.55
    • Engel, C.M.1
  • 89
    • 0000013567 scopus 로고
    • Autoregressive Conditional Heteroskedasticity with Esti­mates of the Variance of United Kingdom Inflation
    • Engle, Robert F. (1982), “Autoregressive Conditional Heteroskedasticity with Esti­mates of the Variance of United Kingdom Inflation,” Econometrica, 50, 987–1007.
    • (1982) Econometrica , vol.50
    • Engle, R.F.1
  • 91
    • 0000013567 scopus 로고
    • Co-Integration and Error Correction: Representation, Estimation, and Testing
    • Engle, Robert F., and C.W.J. Granger (1987), “Co-Integration and Error Correction: Representation, Estimation, and Testing,” Econometrica, 55, 251–76.
    • (1987) Econometrica , vol.55
    • Engle, R.F.1    Granger, C.W.J.2
  • 92
    • 0000842941 scopus 로고
    • Substitution, Risk Aversion and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Frame­work
    • Epstein, Larry G., and Stanley E. Zin (1989), “Substitution, Risk Aversion and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Frame­work,” Econometrica 57, 937–69.
    • (1989) Econometrica , vol.57
    • Epstein, L.G.1    Zin, S.E.2
  • 93
    • 38249016161 scopus 로고
    • First Order Risk Aversion and the Equity Premium Puzzle
    • Epstein, Larry G., and Stanley E. Zin (1990), “First Order Risk Aversion and the Equity Premium Puzzle,” Journal of Monetary Economics, 26, 387–407.
    • (1990) Journal of Monetary Economics , vol.26
    • Epstein, L.G.1    Zin, S.E.2
  • 94
    • 84935429666 scopus 로고
    • Substitution, Risk Aversion, and the Temporal Behavior of Con­sumption Growth and Asset Returns II: An Empirical Analysis
    • Epstein, Larry G., and Stanley E. Zin (1991), “Substitution, Risk Aversion, and the Temporal Behavior of Con­sumption Growth and Asset Returns II: An Empirical Analysis,” Journal of Political Economy, 99, 263–86.
    • (1991) Journal of Political Economy , vol.99
    • Epstein, L.G.1    Zin, S.E.2
  • 95
    • 0000027575 scopus 로고
    • A Test for Speculative Bubbles in the Sterling-Dollar Exchange Rate: 1981–84
    • Evans, George W. (1986), “A Test for Speculative Bubbles in the Sterling-Dollar Exchange Rate: 1981–84,” American Economic Review, 76, 621–36.
    • (1986) American Economic Review , vol.76
    • Evans, G.W.1
  • 98
    • 21844497579 scopus 로고
    • Do Long-Term Swings in the Dollar Affect Estimates of the Risk Premia?
    • Evans, Martin D. D., and Karen K. Lewis (1995), “Do Long-Term Swings in the Dollar Affect Estimates of the Risk Premia?” Review of Financial Studies, 8, 709–42.
    • (1995) Review of Financial Studies , vol.8
    • Evans, M.D.D.1    Lewis, K.K.2
  • 99
    • 48549113655 scopus 로고
    • Forward and Spot Exchange Rates
    • Fama, Eugene F. (1984), “Forward and Spot Exchange Rates,” Journal of Monetary Economics, 14, 319–38.
    • (1984) Journal of Monetary Economics , vol.14
    • Fama, E.F.1
  • 100
    • 0346207692 scopus 로고    scopus 로고
    • Market Efficiency, Long-Term Returns, and Behavioral Finance
    • Fama, Eugene F. (1998), “Market Efficiency, Long-Term Returns, and Behavioral Finance,” Journal of Financial Economics, 49, 283–306.
    • (1998) Journal of Financial Economics , vol.49
    • Fama, E.F.1
  • 102
    • 84963009402 scopus 로고
    • Distortion of Subjective Probabilities as a Reaction to Uncertainty
    • Fellner, William (1961), “Distortion of Subjective Probabilities as a Reaction to Uncertainty,” Quarterly Journal of Economics, 75, 670–89.
    • (1961) Quarterly Journal of Economics , vol.75
    • Fellner, W.1
  • 104
    • 0039252467 scopus 로고
    • Forecasting the Exchange Rate: A Monetary or Random Walk Phenomenon?
    • Finn, Mary G. (1986), “Forecasting the Exchange Rate: A Monetary or Random Walk Phenomenon?” Journal of International Money and Finance, 5, 181–93.
    • (1986) Journal of International Money and Finance , vol.5
    • Finn, M.G.1
  • 105
    • 0000435211 scopus 로고
    • Domestic Financial Policy under Fixed and under Floating Exchange Rates
    • Fleming, Marcus J. (1962), “Domestic Financial Policy under Fixed and under Floating Exchange Rates,” International Monetary Fund Staff Papers, 9, 369–79.
    • (1962) International Monetary Fund Staff Papers , vol.9
    • Fleming, M.J.1
  • 106
    • 58149364107 scopus 로고
    • Fixing Exchange Rates: A Virtual Quest for Fundamentals
    • Flood, Robert P., and Andrew K. Rose (1995), “Fixing Exchange Rates: A Virtual Quest for Fundamentals,” Journal of Monetary Economics, 36, 3–37.
    • (1995) Journal of Monetary Economics , vol.36
    • Flood, R.P.1    Rose, A.K.2
  • 107
    • 0001317512 scopus 로고    scopus 로고
    • Understanding Exchange Rate Volatility without the Contrivance of Macroeconomics
    • Flood, Robert P. (1999), “Understanding Exchange Rate Volatility without the Contrivance of Macroeconomics,” Economic Journal, 109, F660–72.
    • (1999) Economic Journal , vol.109
    • Flood, R.P.1
  • 108
    • 18744363321 scopus 로고    scopus 로고
    • Noise Trading and Exchange Rate Regimes
    • Flood, Robert P. (2002), “Noise Trading and Exchange Rate Regimes,” Quarterly Journal of Economics, 117, 537–69.
    • (2002) Quarterly Journal of Economics , vol.117
    • Flood, R.P.1
  • 110
    • 84995733144 scopus 로고
    • On the Mark: A Theory of Floating Exchange Rate Based on Real Interest Differentials
    • Frankel, Jeffrey A. (1979), “On the Mark: A Theory of Floating Exchange Rate Based on Real Interest Differentials,” American Economic Review, 69, 610–22.
    • (1979) American Economic Review , vol.69
    • Frankel, J.A.1
  • 111
    • 0000985807 scopus 로고
    • In Search of the Exchange-Rate Risk Premium: A Six Currency Test Assuming Mean Variance Optimization
    • Frankel, Jeffrey A. (1982), “In Search of the Exchange-Rate Risk Premium: A Six Currency Test Assuming Mean Variance Optimization,” Journal of International Money and Finance, 1, 255–74.
    • (1982) Journal of International Money and Finance , vol.1
    • Frankel, J.A.1
  • 112
    • 0002052102 scopus 로고
    • Monetary and Portfolio Balance Models of Exchange Rate Determi­nation
    • Jagdeep Bhandari and Bluford Putnam (eds.), Cambridge, Mass.: MIT Press
    • Frankel, Jeffrey A. (1983), “Monetary and Portfolio Balance Models of Exchange Rate Determi­nation,” in Jagdeep Bhandari and Bluford Putnam (eds.), Economic Interdependence and Flexible Exchange Rates, Cambridge, Mass.: MIT Press, 84–115.
    • (1983) Economic Interdependence and Flexible Exchange Rates
    • Frankel, J.A.1
  • 113
    • 0000819868 scopus 로고
    • Tests of Monetary and Portfolio Balance Models of Exchange Rate Determination
    • John F. O. Bilson and Richard Marston (eds.), Chicago: University Chicago Press
    • Frankel, Jeffrey A. (1984), “Tests of Monetary and Portfolio Balance Models of Exchange Rate Determination,” in John F. O. Bilson and Richard Marston (eds.), Exchange Rate Theory and Practice, Chicago: University Chicago Press, 239–60.
    • (1984) Exchange Rate Theory and Practice
    • Frankel, J.A.1
  • 115
    • 0002352870 scopus 로고
    • Understanding the U.S. Dollar in the Eighties: The Expectations of Chartists and Fundamentalists
    • Reprinted in Jeffrey A. Frankel (ed.), (1995) On Exchange Rates, Cambridge, Mass.: MIT Press, 295–316
    • Frankel, Jeffrey A., and Kenneth A. Froot (1986), “Understanding the U.S. Dollar in the Eighties: The Expectations of Chartists and Fundamentalists,” Special issue Economic Record, 24–38. Reprinted in Jeffrey A. Frankel (ed.), (1995) On Exchange Rates, Cambridge, Mass.: MIT Press, 295–316.
    • (1986) Economic Record
    • Frankel, J.A.1    Froot, K.A.2
  • 116
    • 0000131597 scopus 로고
    • Using Survey Data to Test Standard Propositions Regarding Ex­change Rate Expectations
    • Frankel, Jeffrey A., and Kenneth A. (1987), “Using Survey Data to Test Standard Propositions Regarding Ex­change Rate Expectations,” American Economic Review, 77, 133–53.
    • (1987) American Economic Review , vol.77
    • Frankel, J.A.1    Kenneth, A.2
  • 118
    • 77956842194 scopus 로고
    • Empirical Research on Nominal Exchange Rates
    • Gene Grossman and Kenneth Rogoff (eds.), Amsterdam: North-Holland
    • Frankel, Jeffrey A., and Andrew K. Rose (1995), “Empirical Research on Nominal Exchange Rates,” in Gene Grossman and Kenneth Rogoff (eds.), Handbook of International Economics, vol. III, Amsterdam: North-Holland, 1689–729.
    • (1995) Handbook of International Economics , vol.3
    • Frankel, J.A.1    Rose, A.K.2
  • 119
    • 0000634137 scopus 로고
    • A Monetary Approach to the Exchange Rate: Doctrinal Aspects and Empirical Evidence
    • Frenkel, Jacob A. (1976), “A Monetary Approach to the Exchange Rate: Doctrinal Aspects and Empirical Evidence,” Scandinavian Journal of Economics, 78, 200–24.
    • (1976) Scandinavian Journal of Economics , vol.78
    • Frenkel, J.A.1
  • 122
    • 0000860052 scopus 로고
    • The Lag in Effect of Monetary Policy
    • Friedman, Milton (1961), “The Lag in Effect of Monetary Policy,” Journal of Political Economy, 69(5), 447–66.
    • (1961) Journal of Political Economy , vol.69 , Issue.5
    • Friedman, M.1
  • 123
    • 13644276500 scopus 로고    scopus 로고
    • Markov Switching Regimes in a Monetary Exchange Rate Model
    • Frömmel, Michael, Ronald MacDonald, and Lukas Menkhoff (2005), “Markov Switching Regimes in a Monetary Exchange Rate Model,” Economic Modeling, 22, 485–502.
    • (2005) Economic Modeling , vol.22
    • Frömmel, M.1    Macdonald, R.2    Menkhoff, L.3
  • 124
    • 84959841139 scopus 로고
    • Forward Discount Bias: Is It an Exchange Risk Premium?
    • Reprinted in Jeffrey A. Frankel (ed.), (1995) On Exchange Rates, Cambridge, Mass.: MIT Press, 245–60
    • Froot, Kenneth R., and Jeffrey A. Frankel (1989), “Forward Discount Bias: Is It an Exchange Risk Premium?” Quarterly Journal of Economics, 104, 139–61. Reprinted in Jeffrey A. Frankel (ed.), (1995) On Exchange Rates, Cambridge, Mass.: MIT Press, 245–60.
    • (1989) Quarterly Journal of Economics , vol.104
    • Froot, K.R.1    Frankel, J.A.2
  • 125
    • 77957239083 scopus 로고
    • Perspectives on PPP and Long-Run Real Exchange Rates
    • Gene Grossman and Kenneth Rogoff (eds.), Amsterdam: North-Holland
    • Froot, Kenneth A., and Kenneth Rogoff (1995), “Perspectives on PPP and Long-Run Real Exchange Rates,” in Gene Grossman and Kenneth Rogoff (eds.), Handbook of International Economics, vol. III, Amsterdam: North-Holland, 1647–88.
    • (1995) Handbook of International Economics , vol.3
    • Froot, K.A.1    Rogoff, K.2
  • 127
    • 0000597755 scopus 로고
    • Towards an Understanding of Market Processes: Individ­ual Expectations, Learning and Convergence to Rational Expectations Equilib­rium
    • Frydman, Roman (1982), “Towards an Understanding of Market Processes: Individ­ual Expectations, Learning and Convergence to Rational Expectations Equilib­rium,” American Economic Review, 72, 652–68.
    • (1982) American Economic Review , vol.72
    • Frydman, R.1
  • 128
    • 3142611160 scopus 로고
    • Individual Rationality, Decentralization and the Rational Expecta­tions Hypothesis
    • Roman Frydman and Edmund S. Phelps (eds.), New York: Cambridge University Press
    • Frydman, Roman (1983), “Individual Rationality, Decentralization and the Rational Expecta­tions Hypothesis,” in Roman Frydman and Edmund S. Phelps (eds.), Individual Forecasting and Aggregate Outcomes: “Rational Expectations” Examined, New York: Cambridge University Press, 97–122.
    • (1983) Individual Forecasting and Aggregate Outcomes: “Rational Expectations” Examined
    • Frydman, R.1
  • 129
    • 59749085559 scopus 로고    scopus 로고
    • Imperfect Knowledge Expec­tations, Uncertainty Adjusted UIP and Exchange Rate Dynamics
    • Philippe Aghion, Roman Frydman, Joseph Stiglitz, and Michael Woodford (eds.), Princeton, N.J.: Princeton University Press
    • Frydman, Roman, and Michael D. Golberg (2003), “Imperfect Knowledge Expec­tations, Uncertainty Adjusted UIP and Exchange Rate Dynamics,” in Philippe Aghion, Roman Frydman, Joseph Stiglitz, and Michael Woodford (eds.), Knowl­edge, Information and Expectations in Modern Macroeconomics: In Honor of Edmund S. Phelps, Princeton, N.J.: Princeton University Press, 145–82.
    • (2003) Knowl­edge, Information and Expectations In Modern Macroeconomics: In Honor of Edmund S. Phelps
    • Frydman, R.1    Golberg, M.D.2
  • 136
    • 0000242359 scopus 로고
    • Is the Distinction between An­ticipated and Unanticipated Money Growth Relevant in Explaining Aggregate Output?
    • Frydman, Roman, and Peter Rappoport (1987), “Is the Distinction between An­ticipated and Unanticipated Money Growth Relevant in Explaining Aggregate Output?” American Economic Review, 77, 693–703.
    • (1987) American Economic Review , vol.77
    • Frydman, R.1    Rappoport, P.2
  • 137
    • 0006070524 scopus 로고    scopus 로고
    • When Does Privatization Work? The Impact of Private Ownership on Corporate Performance in Transition Economies
    • Frydman, Roman, Cheryl Gray, Marek Hessel, and Andrzej Rapaczynski (1999), “When Does Privatization Work? The Impact of Private Ownership on Corporate Performance in Transition Economies,” Quarterly Journal of Economics, 114 1153–92.
    • (1999) Quarterly Journal of Economics , vol.114
    • Frydman, R.1    Gray, C.2    Hessel, M.3    Rapaczynski, A.4
  • 141
    • 84897901578 scopus 로고
    • Game Shows and Economic Behavior: Risk Taking on ‘Card Sharks,’
    • Gertner, Robert (1993), “Game Shows and Economic Behavior: Risk Taking on ‘Card Sharks,’ ” Quarterly Journal of Economics, 108, 507–21.
    • (1993) Quarterly Journal of Economics , vol.108
    • Gertner, R.1
  • 142
    • 84977712643 scopus 로고
    • Time Variation of Risk and Return in the Foreign Exchange and Stock Markets
    • Giovannini, Alberto, and Philippe Jorion (1989), “Time Variation of Risk and Return in the Foreign Exchange and Stock Markets,” Journal of Finance, 44, 307–26.
    • (1989) Journal of Finance , vol.44
    • Giovannini, A.1    Jorion, P.2
  • 144
    • 21844514008 scopus 로고
    • Symmetry Restrictions and the Semblance of Neutrality in Exchange Rate Models
    • Goldberg, Michael D (1995), “Symmetry Restrictions and the Semblance of Neutrality in Exchange Rate Models,” Journal of Macroeconomics, 17, 579–99.
    • (1995) Journal of Macroeconomics , vol.17
    • Goldberg, M.D.1
  • 145
    • 0034288721 scopus 로고    scopus 로고
    • On Empirical Exchange Rate Models: What Does a Rejection of the Symmetry Restriction on Short-Run Interest Rates Mean?
    • Goldberg, Michael D (2000), “On Empirical Exchange Rate Models: What Does a Rejection of the Symmetry Restriction on Short-Run Interest Rates Mean?” Journal of Inter­national Money and Finance, 19, 673–88.
    • (2000) Journal of Inter­national Money and Finance , vol.19
    • Goldberg, M.D.1
  • 146
    • 0000238857 scopus 로고    scopus 로고
    • Imperfect Knowledge and Behavior in the Foreign Exchange Market
    • (a)
    • Goldberg, Michael D., and Roman Frydman (1996a), “Imperfect Knowledge and Behavior in the Foreign Exchange Market,” Economic Journal, 106, 869–93.
    • (1996) Economic Journal , vol.106
    • Goldberg, M.D.1    Frydman, R.2
  • 148
    • 0035205037 scopus 로고    scopus 로고
    • Macroeconomic Fundamentals and the DM/$ Exchange Rate: Tem­poral Instability and the Monetary Model
    • Goldberg, Michael D., and Roman Frydman (2001), “Macroeconomic Fundamentals and the DM/$ Exchange Rate: Tem­poral Instability and the Monetary Model,” International Journal of Finance and Economics, 6, 421–35.
    • (2001) International Journal of Finance and Economics , vol.6
    • Goldberg, M.D.1    Frydman, R.2
  • 150
    • 11144301875 scopus 로고    scopus 로고
    • Portfolio Choice and Trading Volume with Loss-Averse Investors
    • Gomes, Francisco J. (2005), “Portfolio Choice and Trading Volume with Loss-Averse Investors,” Journal of Business, 78, 675–706.
    • (2005) Journal of Business , vol.78
    • Gomes, F.J.1
  • 151
    • 0000277234 scopus 로고
    • The Foreign Exchange Market: A Random Walk with a Dragging Anchor
    • Goodhart, Charles (1988), “The Foreign Exchange Market: A Random Walk with a Dragging Anchor,” Economica, 55, 437–60.
    • (1988) Economica , vol.55
    • Goodhart, C.1
  • 155
  • 156
    • 0000823520 scopus 로고
    • A Theory of Disappointment Aversion
    • Gul, Faruk (1991), “A Theory of Disappointment Aversion,” Econometrica, 59, 667–86.
    • (1991) Econometrica , vol.59
    • Gul, F.1
  • 158
    • 0000909365 scopus 로고
    • Rational-Expectations Econometric Analysis of Changes in Regime: An Investigation of the Term Structure of Interest Rates
    • Hamilton, James D. (1988), “Rational-Expectations Econometric Analysis of Changes in Regime: An Investigation of the Term Structure of Interest Rates,” Journal of Economics Dynamics and Control, 12, 385–423.
    • (1988) Journal of Economics Dynamics and Control , vol.12
    • Hamilton, J.D.1
  • 159
    • 0001342006 scopus 로고
    • A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle
    • Hamilton, James D. (1989), “A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle,” Econometrica, 57, 357–84.
    • (1989) Econometrica , vol.57
    • Hamilton, J.D.1
  • 160
    • 45149138487 scopus 로고
    • Analysis of Time Series Subject to Changes in Regime
    • Hamilton, James D. (1990), “Analysis of Time Series Subject to Changes in Regime,” Journal of Econometrics, 45, 39–70.
    • (1990) Journal of Econometrics , vol.45
    • Hamilton, J.D.1
  • 162
    • 0000714094 scopus 로고
    • Forward Exchange Rates as Optimal Predictors of Future Spot Rates: An Econometric Analysis
    • Hansen, Lars P., and Robert J. Hodrick (1980), “Forward Exchange Rates as Optimal Predictors of Future Spot Rates: An Econometric Analysis,” Journal of Political Economy, 88, 829–53.
    • (1980) Journal of Political Economy , vol.88
    • Hansen, L.P.1    Hodrick, R.J.2
  • 163
    • 0001693837 scopus 로고
    • Market Perceptions of the Federal Reserve Policy and the Weekly Monetary Announcements
    • Hardouvelis, Gikas A. (1984), “Market Perceptions of the Federal Reserve Policy and the Weekly Monetary Announcements,” Journal of Monetar y Economics, 14, 225–40.
    • (1984) Journal of Monetar Y Economics , vol.14
    • Hardouvelis, G.A.1
  • 164
    • 0033998484 scopus 로고    scopus 로고
    • Exchange Rate Determination: The Role of Factor Price Rigidities and Nontradeables
    • Hau, Harald (2000), “Exchange Rate Determination: The Role of Factor Price Rigidities and Nontradeables,” Journal of International Economics, 50, 421–47.
    • (2000) Journal of International Economics , vol.50
    • Hau, H.1
  • 165
    • 0001073135 scopus 로고
    • The Use of Knowledge in Society
    • Hayek, Friedrich A. (1945), “The Use of Knowledge in Society,” American Economic Review, 35, 519–30.
    • (1945) American Economic Review , vol.35
    • Hayek, F.A.1
  • 167
    • 0008572921 scopus 로고
    • An Exploration of the Theory of Exchange Rate Regimes
    • Helpman, Elhanan (1981), “An Exploration of the Theory of Exchange Rate Regimes,” Journal of Political Economy, 89, 865–90.
    • (1981) Journal of Political Economy , vol.89
    • Helpman, E.1
  • 168
    • 0011672879 scopus 로고
    • Negative Net Foreign Asset Posi­tions and Stability in a World Portfolio Balance Model
    • Henderson, Dale W., and Kenneth Rogoff (1982), “Negative Net Foreign Asset Posi­tions and Stability in a World Portfolio Balance Model,” Journal of International Economics, 13, 85–104.
    • (1982) Journal of International Economics , vol.13
    • Henderson, D.W.1    Rogoff, K.2
  • 169
    • 84914287483 scopus 로고
    • Econometrics: Alchemy or Science?
    • Reprinted in David Hendry (1993), Econometrics: Alchemy or Science?, Oxford: Blackwell
    • Hendry, David (1980), “Econometrics: Alchemy or Science?,” Economica, 47, 387–406. Reprinted in David Hendry (1993), Econometrics: Alchemy or Science?, Oxford: Blackwell.
    • (1980) Economica , vol.47
    • Hendry, D.1
  • 170
    • 0033907251 scopus 로고    scopus 로고
    • Explaining Cointegration Analysis. Part 1
    • Hendry, David, and Katarina Juselius (2000), “Explaining Cointegration Analysis. Part 1,” Energy Journal, 21, 1–42.
    • (2000) Energy Journal , vol.21
    • Hendry, D.1    Juselius, K.2
  • 171
    • 0035728262 scopus 로고    scopus 로고
    • Explaining Cointegration Analysis. Part 2
    • Hendry, David, and Katarina Juselius (2001), “Explaining Cointegration Analysis. Part 2,” Energy Journal, 22, 75–120.
    • (2001) Energy Journal , vol.22
    • Hendry, D.1    Juselius, K.2
  • 172
    • 0005122580 scopus 로고    scopus 로고
    • Improving on ‘Data Mining Re­considered’ by K. D. Hoover and S. J. Perez
    • Hendry, David, and Hans-Martin Krolzig (1999), “Improving on ‘Data Mining Re­considered’ by K. D. Hoover and S. J. Perez,” Econometrics Journal, 2, 202–19.
    • (1999) Econometrics Journal , vol.2
    • Hendry, D.1    Krolzig, H.-M.2
  • 173
    • 85198577442 scopus 로고    scopus 로고
    • London: Timberlake Consultants
    • Hendry, David, and Hans-Martin Krolzig (2001), PcGets, London: Timberlake Consultants.
    • (2001) Pcgets
    • Hendry, D.1    Krolzig, H.-M.2
  • 174
    • 85099269301 scopus 로고
    • An Empirical Analysis of the Monetary Approach to the De­termination of the Exchange Rate
    • Jacob A. Frenkel and Harry G. Johnson (eds.), Reading, Mass.: Addison-Wesley
    • Hodrick, Robert (1978), “An Empirical Analysis of the Monetary Approach to the De­termination of the Exchange Rate,” in Jacob A. Frenkel and Harry G. Johnson (eds.), The Economics of Exchange Rates, Reading, Mass.: Addison-Wesley, 97–116.
    • (1978) The Economics of Exchange Rates
    • Hodrick, R.1
  • 175
    • 0012166025 scopus 로고    scopus 로고
    • A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets
    • Hong, Harrison, and Jeremy C. Stein (1999), “A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets,” Journal of Finance, 54, 2143–84.
    • (1999) Journal of Finance , vol.54
    • Hong, H.1    Stein, J.C.2
  • 176
    • 0001841002 scopus 로고
    • Fluctuations in the Dollar: A Model of Nominal and Real Exchange Rate Determination
    • Hooper, Peter, and John Morton (1982), “Fluctuations in the Dollar: A Model of Nominal and Real Exchange Rate Determination,” Journal of International Money and Finance, 1, 39–56.
    • (1982) Journal of International Money and Finance , vol.1
    • Hooper, P.1    Morton, J.2
  • 177
    • 0001590810 scopus 로고
    • Foreign Exchange Rate Expectations: Micro Survey Data
    • Ito, Takatoshi (1990), “Foreign Exchange Rate Expectations: Micro Survey Data,” American Economic Review, 80, 434–49.
    • (1990) American Economic Review , vol.80
    • Ito, T.1
  • 178
    • 84927965229 scopus 로고    scopus 로고
    • Noise Trading and Exchange Rate Regimes
    • Jeanne, Olivier, and Andrew K. Rose (2002), “Noise Trading and Exchange Rate Regimes,” Quarterly Journal of Economics, 104, 139–61.
    • (2002) Quarterly Journal of Economics , vol.104
    • Jeanne, O.1    Rose, A.K.2
  • 180
    • 0000125532 scopus 로고
    • Prospect Theory: An Analysis of Decision under Risk
    • Kahneman, Daniel, and Amos Tversky (1979), “Prospect Theory: An Analysis of Decision under Risk,” Econometrica, 47, 263–91.
    • (1979) Econometrica , vol.47
    • Kahneman, D.1    Tversky, A.2
  • 181
    • 0001476020 scopus 로고
    • Is There a Peso Problem?: Evidence from the Dollar/Pound Exchange Rate 1976–1987
    • Kaminsky, Graciela L. (1993), “Is There a Peso Problem?: Evidence from the Dollar/Pound Exchange Rate 1976–1987,” American Economic Review, 83, 450–72.
    • (1993) American Economic Review , vol.83
    • Kaminsky, G.L.1
  • 182
    • 38249018750 scopus 로고
    • Can a Time-Varying Risk Pre­mium Explain Excess Returns in the Forward Market for Foreign Exchange?
    • Kaminsky, Graciela L., and Rodrigo Peruga (1990), “Can a Time-Varying Risk Pre­mium Explain Excess Returns in the Forward Market for Foreign Exchange?” Journal of International Economics, 28, 47–70.
    • (1990) Journal of International Economics , vol.28
    • Kaminsky, G.L.1    Peruga, R.2
  • 183
    • 79951541544 scopus 로고    scopus 로고
    • Obliquity
    • January 17
    • Kay, John (2004), “Obliquity,” Financial Times, January 17, 16.
    • (2004) Financial Times
    • Kay, J.1
  • 187
    • 0037403617 scopus 로고    scopus 로고
    • Why Is It So Difficult to Beat the Random Walk Forecast of Exchange Rates?
    • Kilian, Lutz, and Mark Taylor (2003), “Why Is It So Difficult to Beat the Random Walk Forecast of Exchange Rates?” Journal of International Economics, 60, 85–107.
    • (2003) Journal of International Economics , vol.60
    • Kilian, L.1    Taylor, M.2
  • 190
    • 0035177511 scopus 로고    scopus 로고
    • The Exchange Rate in a Dynamic-Optimizing Business Cycle Model with Nominal Rigidities: A Quantitative Investigation
    • Kollmann, Robert (2001), “The Exchange Rate in a Dynamic-Optimizing Business Cycle Model with Nominal Rigidities: A Quantitative Investigation,” Journal of International Economics, 55, 243–62.
    • (2001) Journal of International Economics , vol.55
    • Kollmann, R.1
  • 191
    • 13944256314 scopus 로고    scopus 로고
    • Macroeconomic Effects of Nominal Exchange Rate Regimes: New Insights into the Role of Price Dynamics
    • Kollmann, Robert (2005), “Macroeconomic Effects of Nominal Exchange Rate Regimes: New Insights into the Role of Price Dynamics,” Journal of International Money and Finance, 24, 275–95.
    • (2005) Journal of International Money and Finance , vol.24
    • Kollmann, R.1
  • 192
    • 0000634136 scopus 로고
    • The Exchange Rate and the Balance of Payments in the Short Run and in the Long Run
    • Kouri, Pentti J. K. (1976), “The Exchange Rate and the Balance of Payments in the Short Run and in the Long Run,” Scandinavian Journal of Economics, 2, 2280–304.
    • (1976) Scandinavian Journal of Economics , vol.2
    • Kouri, P.J.K.1
  • 196
    • 0013008779 scopus 로고
    • NBER Working Paper 1644, Cambridge Mass.: National Bureau of Economic Research
    • Krugman, Paul R. (1986), “Is the Strong Dollar Sustainable?” NBER Working Paper 1644, Cambridge Mass.: National Bureau of Economic Research.
    • (1986) Is the Strong Dollar Sustainable?
    • Krugman, P.R.1
  • 197
    • 41849088685 scopus 로고
    • The Narrow Moving Band, the Dutch Disease, and the Competitive Consequence of Mrs. Thatcher: Notes on Trade in the Presence of Dynamic Scale Economies
    • (a)
    • Krugman, Paul R. (1987a), “The Narrow Moving Band, the Dutch Disease, and the Competitive Consequence of Mrs. Thatcher: Notes on Trade in the Presence of Dynamic Scale Economies,” Journal of Development Economics, 27, 41–55.
    • (1987) Journal of Development Economics , vol.27
    • Krugman, P.R.1
  • 198
    • 0002092365 scopus 로고
    • Pricing to Market When the Exchange Rate Changes
    • (b), in Sven W. Arndt and J. David Richardson (eds.), Cambridge, Mass.: MIT Press
    • Krugman, Paul R. (1987b), “Pricing to Market When the Exchange Rate Changes,” in Sven W. Arndt and J. David Richardson (eds.), Real-Financial Linkages among Open Economies, Cambridge, Mass.: MIT Press, 49–70.
    • (1987) Real-Financial Linkages among Open Economies
    • Krugman, P.R.1
  • 199
    • 0000643498 scopus 로고
    • Rules Rather than Discretion: The Inconsistency of Optimal Plans
    • Kydland, Finn E., and Edward C. Prescott (1977), “Rules Rather than Discretion: The Inconsistency of Optimal Plans,” Journal of Political Economy, 85, 473–91.
    • (1977) Journal of Political Economy , vol.85
    • Kydland, F.E.1    Prescott, E.C.2
  • 200
    • 0001781267 scopus 로고    scopus 로고
    • A Computational Experiment: An Econometric Tool
    • Kydland, Finn E. (1996), “A Computational Experiment: An Econometric Tool,” Journal of Economic Perspectives, 10, 69–85.
    • (1996) Journal of Economic Perspectives , vol.10
    • Kydland, F.E.1
  • 201
    • 0034952731 scopus 로고    scopus 로고
    • The New Open Economy Macroeconomics: A Survey
    • Lane, Philip R. (2001), “The New Open Economy Macroeconomics: A Survey,” Journal of International Economics, 54, 235–66.
    • (2001) Journal of International Economics , vol.54
    • Lane, P.R.1
  • 203
    • 0001090096 scopus 로고
    • Economic Forecast Evaluation: Profits versus the Conventional Error Measures
    • Leitch, Gordon, and J. Ernest Tanner (1991), “Economic Forecast Evaluation: Profits versus the Conventional Error Measures,” American Economic Review, 81, 580–90.
    • (1991) American Economic Review , vol.81
    • Leitch, G.1    Ernest Tanner, J.2
  • 204
    • 77956801605 scopus 로고
    • Empirical Studies of Exchange Rates: Price Behavior, Rate Determination and Market Efficiency
    • Ronald W. Jones and Peter B. Kenen (eds.), Amsterdam: North-Holland
    • Levich, Richard M. (1985), “Empirical Studies of Exchange Rates: Price Behavior, Rate Determination and Market Efficiency,” in Ronald W. Jones and Peter B. Kenen (eds.), Handbook of International Economics, vol. II, Amsterdam: North-Holland, 979–1040.
    • (1985) Handbook of International Economics , vol.2
    • Levich, R.M.1
  • 205
    • 38249025050 scopus 로고
    • Can Learning Affect Exchange Rate Behavior? The Case of the Dollar in the Early 1980s
    • (a)
    • Lewis, Karen K. (1989a), “Can Learning Affect Exchange Rate Behavior? The Case of the Dollar in the Early 1980s,” Journal of Monetary Economics, 23, 79–100.
    • (1989) Journal of Monetary Economics , vol.23
    • Lewis, K.K.1
  • 206
    • 0000639652 scopus 로고
    • Changing Beliefs and Systematic Rational Forecast Errors with Evidence from Foreign Exchange
    • (b)
    • Lewis, Karen K. (1989b), “Changing Beliefs and Systematic Rational Forecast Errors with Evidence from Foreign Exchange,” American Economic Review, 79, 621–36.
    • (1989) American Economic Review , vol.79
    • Lewis, K.K.1
  • 207
    • 77956852950 scopus 로고
    • Puzzles in International Financial Markets
    • Gene Grossman and Kenneth Rogoff (eds.), Amsterdam: North-Holland
    • Lewis, Karen K. (1995), “Puzzles in International Financial Markets,” in Gene Grossman and Kenneth Rogoff (eds.), Handbook of International Economics, vol. III, Amsterdam: North-Holland, 1913–71.
    • (1995) Handbook of International Economics , vol.3
    • Lewis, K.K.1
  • 208
    • 0011630939 scopus 로고
    • Using Survey Data to Test Market Efficiency in the Foreign Exchange Markets
    • Liu, Peter C., and G. S. Maddala (1992), “Using Survey Data to Test Market Efficiency in the Foreign Exchange Markets,” Empirical Economics, 17, 303–14.
    • (1992) Empirical Economics , vol.17
    • Liu, P.C.1    Maddala, G.S.2
  • 209
    • 49649131398 scopus 로고
    • Expectations and Neutrality of Money
    • Lucas, Robert E., Jr. (1972), “Expectations and Neutrality of Money,” Journal of Economic Theory, 4, 101–24.
    • (1972) Journal of Economic Theory , vol.4
    • Lucasrobert, E.1
  • 210
    • 0013148655 scopus 로고
    • Interest Rates and Currency Prices in a Two-Country World
    • Lucas, Robert E., Jr. (1982), “Interest Rates and Currency Prices in a Two-Country World,” Journal of Monetray Economics, 10, 335–59.
    • (1982) Journal of Monetray Economics , vol.10
    • Lucasrobert, E.1
  • 211
    • 85198575116 scopus 로고
    • Nobel Lecture, Stockholm: Nobel Founda­tion
    • Lucas, Robert E., Jr. (1995), “Monetary Neutrality,” Nobel Lecture, Stockholm: Nobel Founda­tion.
    • (1995) Monetary Neutrality
    • Lucasrobert, E.1
  • 214
  • 215
    • 85070900637 scopus 로고    scopus 로고
    • General Comments on Part I
    • (b), in Philippe Aghion, Roman Fryd-man, Joseph Stiglitz, and Michael Woodford (eds.), Princeton, N.J.: Princeton University Press
    • Lucas, Robert E., Jr. (2003b), “General Comments on Part I,” in Philippe Aghion, Roman Fryd-man, Joseph Stiglitz, and Michael Woodford (eds.), Knowledge, Information and Expectations in Modern Macroeconomics: In Honor of Edmund S. Phelps, Princeton, N.J.: Princeton University Press, 137–41.
    • (2003) Knowledge, Information and Expectations In Modern Macroeconomics: In Honor of Edmund S. Phelps
    • Lucasrobert, E.1
  • 216
    • 0032090855 scopus 로고    scopus 로고
    • The Use of Fundamental and Technical Analy­sis by Foreign Exchange Dealers: Hong Kong Evidence
    • Lui, Yu-Hon, and David Mole (1998), “The Use of Fundamental and Technical Analy­sis by Foreign Exchange Dealers: Hong Kong Evidence,” Journal of International Money and Finance, 17, 535–45.
    • (1998) Journal of International Money and Finance , vol.17
    • Lui, Y.-H.1    Mole, D.2
  • 217
    • 0039768935 scopus 로고    scopus 로고
    • On Fundamentals and Exchange Rates: A Casselian Perspective
    • MacDonald, Ronald, and Ian W. Marsh (1997), “On Fundamentals and Exchange Rates: A Casselian Perspective,” Review of Economics and Statistics, 79, 655–64.
    • (1997) Review of Economics and Statistics , vol.79
    • Macdonald, R.1    Marsh, I.W.2
  • 218
    • 0002523215 scopus 로고
    • The Monetary Model to the Ex­change Rate: Rational Expectations, Long-Run Equilibrium, and Forecasting
    • MacDonald, Ronald, and Mark P. Taylor (1993), “The Monetary Model to the Ex­change Rate: Rational Expectations, Long-Run Equilibrium, and Forecasting,” International Monetary Fund Staff Papers, 40, 89–107.
    • (1993) International Monetary Fund Staff Papers , vol.40
    • Macdonald, R.1    Taylor, M.P.2
  • 219
    • 38149146963 scopus 로고
    • The Monetary Model of the Exchange Rate: Long-Run Relation­ships, Short-Run Dynamics and How to Beat a Random Walk
    • MacDonald, Ronald, and Mark P. Taylor (1994), “The Monetary Model of the Exchange Rate: Long-Run Relation­ships, Short-Run Dynamics and How to Beat a Random Walk,” Journal of Inter­national Money and Finance, 13, 276–90.
    • (1994) Journal of Inter­national Money and Finance , vol.13
    • Macdonald, R.1    Taylor, M.P.2
  • 220
    • 84981632180 scopus 로고
    • On Risk, Rationality and Ex­cessive Speculation in the Deutschemark–U.S. Dollar Exchange Market: Some Evidence Using Survey Data
    • MacDonald, Ronald, and Thomas S. Torrance (1988), “On Risk, Rationality and Ex­cessive Speculation in the Deutschemark–U.S. Dollar Exchange Market: Some Evidence Using Survey Data,” Oxford Bulletin of Economics and Statistics, 50, 107–23.
    • (1988) Oxford Bulletin of Economics and Statistics , vol.50
    • Macdonald, R.1    Torrance, T.S.2
  • 221
    • 84959778075 scopus 로고
    • Small Menu Costs and Large Business Cycles: A Macro­economic Model of Monopoly
    • Mankiw, Gregory N. (1985), “Small Menu Costs and Large Business Cycles: A Macro­economic Model of Monopoly,” Quarterly Journal of Economics, 100, 529–39.
    • (1985) Quarterly Journal of Economics , vol.100
    • Mankiw, G.N.1
  • 222
    • 0002413498 scopus 로고
    • On Time Varying Risk Premia in the Foreign Exchange Market: An Econometric Analysis
    • Mark, Nelson C. (1985), “On Time Varying Risk Premia in the Foreign Exchange Market: An Econometric Analysis,” Journal of Monetary Economics, 16, 3–18.
    • (1985) Journal of Monetary Economics , vol.16
    • Mark, N.C.1
  • 223
    • 0009079604 scopus 로고
    • Time Varying Betas and Risk Premia in the Foreign Exchange Market: An Econometric Analysis
    • Mark, Nelson C. (1988), “Time Varying Betas and Risk Premia in the Foreign Exchange Market: An Econometric Analysis,” Journal of Financial Economics, 22, 335–54.
    • (1988) Journal of Financial Economics , vol.22
    • Mark, N.C.1
  • 224
    • 0001413344 scopus 로고
    • Exchange Rates and Fundamentals: Evidence on Long-Horizon Predictability
    • Mark, Nelson C. (1995), “Exchange Rates and Fundamentals: Evidence on Long-Horizon Predictability,” American Economic Review, 85, 201–18.
    • (1995) American Economic Review , vol.85
    • Mark, N.C.1
  • 226
    • 0003164646 scopus 로고    scopus 로고
    • Real Exchange Rate Prediction over Long Horizons
    • Mark, Nelson C., and Doo-Yull Choi (1997), “Real Exchange Rate Prediction over Long Horizons,” Journal of International Economics, 43, 29–60.
    • (1997) Journal of International Economics , vol.43
    • Mark, N.C.1    Choi, D.-Y.2
  • 227
    • 0001538138 scopus 로고    scopus 로고
    • Rethinking Deviations from Uncovered Interest Parity: The Role of Covariance Risk and Noise
    • Mark, Nelson C., and Yangru Wu (1998), “Rethinking Deviations from Uncovered Interest Parity: The Role of Covariance Risk and Noise,” Economic Journal, 108, 1686–786.
    • (1998) Economic Journal , vol.108
    • Mark, N.C.1    Yangru, W.2
  • 228
    • 84910338398 scopus 로고
    • NBER Working Paper 377, Cambridge, Mass.: National Bureau of Economic Research
    • Martin, J. P., and P. Masson (1979), “Exchange Rates and Portfolio Balance,” NBER Working Paper 377, Cambridge, Mass.: National Bureau of Economic Research.
    • (1979) Exchange Rates and Portfolio Balance
    • Martin, J.P.1    Masson, P.2
  • 229
    • 84936219164 scopus 로고
    • Testing for Bubbles in Exchange Markets: A Case of Sparkling Rates?
    • Meese, Richard A. (1986), “Testing for Bubbles in Exchange Markets: A Case of Sparkling Rates?,” Journal of Political Economy, 94, 345–73.
    • (1986) Journal of Political Economy , vol.94
    • Meese, R.A.1
  • 230
    • 0001757350 scopus 로고
    • Currency Fluctuations in the Post–Bretton Woods Era
    • Meese, Richard A. (1990), “Currency Fluctuations in the Post–Bretton Woods Era,” Journal of Economic Perspectives, 4, 117–34.
    • (1990) Journal of Economic Perspectives , vol.4
    • Meese, R.A.1
  • 231
    • 33846907054 scopus 로고
    • Empirical Exchange Rate Models of the Seventies: Do They Fit out of Sample?
    • Meese, Richard A., and Kenneth Rogoff (1983), “Empirical Exchange Rate Models of the Seventies: Do They Fit out of Sample?” Journal of International Economics, 14, 3–24.
    • (1983) Journal of International Economics , vol.14
    • Meese, R.A.1    Rogoff, K.2
  • 232
    • 0001289857 scopus 로고
    • Was It Real? The Exchange Rate–Interest Differential Relation over the Modern Floating-Rate Period
    • Meese, Richard A., and Kenneth Rogoff (1988), “Was It Real? The Exchange Rate–Interest Differential Relation over the Modern Floating-Rate Period,” Journal of Finance, 43, 993–48.
    • (1988) Journal of Finance , vol.43
    • Meese, R.A.1    Rogoff, K.2
  • 233
    • 84959798347 scopus 로고
    • An Empirical Assessment of Non­Linearities in Models of Exchange Rate Determination
    • Meese, Richard A., and Andrew K. Rose (1991), “An Empirical Assessment of Non­Linearities in Models of Exchange Rate Determination,” Review of Economic Studies, 58, 603–19.
    • (1991) Review of Economic Studies , vol.58
    • Meese, R.A.1    Rose, A.K.2
  • 235
    • 0000017295 scopus 로고    scopus 로고
    • Transaction Costs and Non-Linear Adjustment in Real Exchange Rates: An Empirical Investigation
    • Michael, Panos, A. Robert Nobay, and David A. Peel (1997), “Transaction Costs and Non-Linear Adjustment in Real Exchange Rates: An Empirical Investigation,” Journal of Political Economy, 105, 862–79.
    • (1997) Journal of Political Economy , vol.105
    • Michael, P.1    Robert Nobay, A.2    Peel, D.A.3
  • 236
    • 0037712173 scopus 로고    scopus 로고
    • Current Account Reversals and Currency Crises: Empirical Regularities
    • Paul Krugman (ed.), Chicago: Univeristy of Chicago Press
    • Milesi-Ferretti, Assaf Razin (2000), “Current Account Reversals and Currency Crises: Empirical Regularities,” in Paul Krugman (ed.), Currency Crises, Chicago: Univeristy of Chicago Press, 285–325.
    • (2000) Currency Crises
    • Milesi-Ferretti, A.R.1
  • 237
    • 0011566933 scopus 로고
    • Multiple Maturities and Time-Varying Risk Premia in Forward Exchange Markets: An Econometric Analysis
    • Modjtahedi, Bagher (1991), “Multiple Maturities and Time-Varying Risk Premia in Forward Exchange Markets: An Econometric Analysis,” Journal of International Economics, 30, 69–86.
    • (1991) Journal of International Economics , vol.30
    • Modjtahedi, B.1
  • 238
    • 73949114003 scopus 로고
    • Economics and the Theory of Games
    • Morgenstern, Oskar (1949), “Economics and the Theory of Games,” Kyklos, 3, 294–308.
    • (1949) Kyklos , vol.3
    • Morgenstern, O.1
  • 239
    • 0001022384 scopus 로고
    • Capital Mobility and Stabilization Policy under Fixed and Flexible Exchange Rates
    • Mundell, Robert A. (1963), “Capital Mobility and Stabilization Policy under Fixed and Flexible Exchange Rates,” Canadian Journal of Economics and Political Science, 29, 475–85.
    • (1963) Canadian Journal of Economics and Political Science , vol.29
    • Mundell, R.A.1
  • 240
    • 0001281286 scopus 로고
    • Rational Expectations and the Theory of Price Movements
    • Muth, John F. (1961), “Rational Expectations and the Theory of Price Movements,” Econometrica, 29, 315–35.
    • (1961) Econometrica , vol.29
    • Muth, J.F.1
  • 242
    • 0001054430 scopus 로고    scopus 로고
    • Models of Currency Crises with Self-Fulfilling Features
    • Obstfeld, Maurice (1996), “Models of Currency Crises with Self-Fulfilling Features,” European Economic Review, 40, 1037–47.
    • (1996) European Economic Review , vol.40
    • Obstfeld, M.1
  • 243
    • 0347839264 scopus 로고    scopus 로고
    • Exchange Rates and Adjustment: Perspectives from the New Open Economy Macroeconomics
    • Bank of Japan
    • Obstfeld, Maurice (2002), “Exchange Rates and Adjustment: Perspectives from the New Open Economy Macroeconomics,” Monetary and Economic Studies (Bank of Japan), 20, 23–46.
    • (2002) Monetary and Economic Studies , vol.20
    • Obstfeld, M.1
  • 246
    • 0004012287 scopus 로고    scopus 로고
    • NBER Working Paper 6694, Cambridge Mass.: National Bureau of Economic Research
    • Obstfeld, Maurice, and Kenneth Rogoff (1998), “Risk and Exchange Rates,” NBER Working Paper 6694, Cambridge Mass.: National Bureau of Economic Research.
    • (1998) Risk and Exchange Rates
    • Obstfeld, M.1    Rogoff, K.2
  • 247
    • 0033953153 scopus 로고    scopus 로고
    • New Directions for Stochastic Open Economy Models
    • (a)
    • Obstfeld, Maurice, and Kenneth Rogoff (2000a), “New Directions for Stochastic Open Economy Models,” Journal of International Economics, 50, 117–53.
    • (2000) Journal of International Economics , vol.50
    • Obstfeld, M.1    Rogoff, K.2
  • 248
    • 0039193070 scopus 로고    scopus 로고
    • The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?
    • (b), in Ben Bernanke and Kenneth Rogoff (eds.), Cambridge, Mass.: MIT Press
    • Obstfeld, Maurice, and Kenneth Rogoff (2000b), “The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?” in Ben Bernanke and Kenneth Rogoff (eds.), NBER Macro­economics Annual 2000, Cambridge, Mass.: MIT Press, 339–90.
    • (2000) NBER Macro­economics Annual 2000
    • Obstfeld, M.1    Rogoff, K.2
  • 249
    • 25144433395 scopus 로고    scopus 로고
    • Global Current Account Imbalances and Exchange Rate Adjust­ments
    • Obstfeld, Maurice, and Kenneth Rogoff (2005), “Global Current Account Imbalances and Exchange Rate Adjust­ments,” Brookings Papers on Economic Activity, 1, 67–146.
    • (2005) Brookings Papers on Economic Activity , vol.1
    • Obstfeld, M.1    Rogoff, K.2
  • 250
    • 0031541876 scopus 로고    scopus 로고
    • Nonlinear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher’s Commodity Points Revisited
    • Obstfeld, Maurice, and Alan Taylor (1997), “Nonlinear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher’s Commodity Points Revisited,” Journal of the Japanese and International Economies, 11, 441–79.
    • (1997) Journal of the Japanese and International Economies , vol.11
    • Obstfeld, M.1    Taylor, A.2
  • 252
    • 0034800774 scopus 로고    scopus 로고
    • Explaining the Border Effect: The Role of Exchange Rate Variability, Shipping Costs and Geography
    • Parsley, David, and Shang-Jin Wei (2001), “Explaining the Border Effect: The Role of Exchange Rate Variability, Shipping Costs and Geography,” Journal of Interna­tional Economics, 55, 87–105.
    • (2001) Journal of Interna­tional Economics , vol.55
    • Parsley, D.1    Wei, S.-J.2
  • 253
    • 20844458923 scopus 로고
    • The Doctrine of Chances
    • C. J. Loesel et al. (eds.), Indianapolis: Indiana University Press, 238–42
    • Peirce, Charles S. (1878), “The Doctrine of Chances,” in C. J. Loesel et al. (eds.), Writ­ings of Charles S. Peirce: A Chronological Edition, vol. 3, 1872–1878, Indianapolis: Indiana University Press, 238–42.
    • (1878) Writ­ings of Charles S. Peirce: a Chronological Edition , vol.3
    • Peirce, C.S.1
  • 254
    • 27644580196 scopus 로고
    • Trends and Random Walks in Macroeconomic Time Series
    • Perron, P. (1988), “Trends and Random Walks in Macroeconomic Time Series,” Journal of Economic Dynamics and Control, 12, 297–332.
    • (1988) Journal of Economic Dynamics and Control , vol.12
    • Perron, P.1
  • 255
    • 0000257407 scopus 로고
    • Money Wage Dynamics, and Labor Market Equilib­rium
    • (a)
    • Phelps, Edmund S. (1968a), “Money Wage Dynamics, and Labor Market Equilib­rium,” Journal of Political Economy, 76, 687–711.
    • (1968) Journal of Political Economy , vol.76
    • Phelps, E.S.1
  • 258
    • 0013127001 scopus 로고
    • The Trouble with ‘Rational Expectations’ and the Problem of Infla­tion Stabilization
    • Roman Frydman and Edmund S. Phelps (eds.), New York: Cambridge University Press
    • Phelps, Edmund S. (1983), “The Trouble with ‘Rational Expectations’ and the Problem of Infla­tion Stabilization,” in Roman Frydman and Edmund S. Phelps (eds.), Individual Forecasting and Aggregate Outcomes: “Rational Expectations” Examined, New York: Cambridge University Press, 31–41.
    • (1983) Individual Forecasting and Aggregate Outcomes: “Rational Expectations” Examined
    • Phelps, E.S.1
  • 260
    • 34547460745 scopus 로고    scopus 로고
    • Prospective Shifts, Speculative Swings: ‘Macro’ for the Twenty-First Century in the Tradition Championed by Paul Samuelson
    • (a), in Michael Szenberg, Lall Ramrattan, and Aron A. Gottesman (eds.), Oxford: Oxford University Press
    • Phelps, Edmund S. (2006a), “Prospective Shifts, Speculative Swings: ‘Macro’ for the Twenty-First Century in the Tradition Championed by Paul Samuelson,” in Michael Szenberg, Lall Ramrattan, and Aron A. Gottesman (eds.), Samuelsonian Economics, Oxford: Oxford University Press, 66–87.
    • (2006) Samuelsonian Economics
    • Phelps, E.S.1
  • 261
    • 85198572559 scopus 로고    scopus 로고
    • Economic Prosperity and Dynamism of Economic Institutions
    • (b), in Winston T. H. Koh and Roberto S. Mariano (eds.), Singapore: Addison-Wesley
    • Phelps, Edmund S. (2006b), “Economic Prosperity and Dynamism of Economic Institutions,” in Winston T. H. Koh and Roberto S. Mariano (eds.), Economic Prospects of Singapore, Singapore: Addison-Wesley, 299–333.
    • (2006) Economic Prospects of Singapore
    • Phelps, E.S.1
  • 262
    • 34547451290 scopus 로고    scopus 로고
    • Macroeconomics for a Modern Economy
    • Nobel Prize Lecture, forthcoming
    • Phelps, Edmund (2007), “Macroeconomics for a Modern Economy,” Nobel Prize Lecture, forthcoming in American Economic Review.
    • (2007) American Economic Review
    • Phelps, E.1
  • 264
    • 0000308535 scopus 로고
    • Time Series Regression with Unit Roots
    • Phillips, Peter C. B. (1987), “Time Series Regression with Unit Roots,” Econometrica, 55, 277–302.
    • (1987) Econometrica , vol.55
    • Phillips, P.C.B.1
  • 265
    • 0000880923 scopus 로고
    • Optimal Inference in Cointegrated Systems
    • Phillips, Peter C. B. (1991), “Optimal Inference in Cointegrated Systems,” Econometrica, 59, 283–86.
    • (1991) Econometrica , vol.59
    • Phillips, P.C.B.1
  • 266
    • 0000784320 scopus 로고
    • Asymptotic Properties of Residual Based Tests for Cointegration
    • Phillips, Peter C. B., and S. Ouliaris (1990), “Asymptotic Properties of Residual Based Tests for Cointegration,” Econometrica, 58, 165–93.
    • (1990) Econometrica , vol.58
    • Phillips, P.C.B.1    Ouliaris, S.2
  • 267
    • 0004003509 scopus 로고
    • Chicago: University of Chicago Press
    • Polanyi, Michael (1958), Personal Knowledge, Chicago: University of Chicago Press.
    • (1958) Personal Knowledge
    • Polanyi, M.1
  • 270
    • 84945789945 scopus 로고
    • Tests of the Hypothesis that a Linear Regression System Obeys Two Separate Regimes
    • Quandt, Richard (1960), “Tests of the Hypothesis that a Linear Regression System Obeys Two Separate Regimes,” Journal of the American Statistical Association, 53, 873–80.
    • (1960) Journal of the American Statistical Association , vol.53
    • Quandt, R.1
  • 271
    • 0036264347 scopus 로고    scopus 로고
    • A Perspective on Psychology and Economics
    • Rabin, Matthew (2002), “A Perspective on Psychology and Economics,” European Economic Review, 46, 657–85.
    • (2002) European Economic Review , vol.46
    • Rabin, M.1
  • 272
    • 0000786475 scopus 로고    scopus 로고
    • The Purchasing Power Puzzle
    • Rogoff, Kenneth (1996), “The Purchasing Power Puzzle,” Journal of Economic Litera­ture, 34, 647–68.
    • (1996) Journal of Economic Litera­ture , vol.34 , pp. 647-668
    • Rogoff, K.1
  • 274
    • 0000002850 scopus 로고
    • The Current Account and Macroeconomic Adjustment in the 1970s
    • Sachs, Jeffrey (1981), “The Current Account and Macroeconomic Adjustment in the 1970s,” Brookings Papers on Economic Activity, 1981, 201–82.
    • (1981) Brookings Papers on Economic Activity , vol.1981
    • Sachs, J.1
  • 275
    • 0000291654 scopus 로고
    • The Current Account in the Macroeconomic Adjustment Process
    • Sachs, Jeffrey (1982), “The Current Account in the Macroeconomic Adjustment Process,” Scandinavian Journal of Economics, 84, 147–59.
    • (1982) Scandinavian Journal of Economics , vol.84
    • Sachs, J.1
  • 280
    • 0033173978 scopus 로고    scopus 로고
    • Moral Hazard, Asset Price Bubbles, Capital Flows, and the East Asian Crisis: The First Tests
    • Sarno, Lucio, and Mark P. Taylor (1999), “Moral Hazard, Asset Price Bubbles, Capital Flows, and the East Asian Crisis: The First Tests,” Journal of International Money and Finance, 18, 637–57.
    • (1999) Journal of International Money and Finance , vol.18
    • Sarno, L.1    Taylor, M.P.2
  • 282
    • 45349112590 scopus 로고
    • The Out-of-Sample Forecasting Per­formance of Exchange Rate Models When Coefficients Are Allowed to Change
    • Schinasi, Garry J., and P. A. V. B. Swamy (1989), “The Out-of-Sample Forecasting Per­formance of Exchange Rate Models When Coefficients Are Allowed to Change,” Journal of International Money and Finance, 8, 375–90.
    • (1989) Journal of International Money and Finance , vol.8
    • Schinasi, G.J.1    Swamy, P.A.V.B.2
  • 285
    • 33747833685 scopus 로고    scopus 로고
    • The Interaction between Technical Currency Trading and Ex­change Rate Fluctuations
    • Schulmeister, Stephan (2006), “The Interaction between Technical Currency Trading and Ex­change Rate Fluctuations,” Finance Research Letters, 3, 212–33.
    • (2006) Finance Research Letters , vol.3
    • Schulmeister, S.1
  • 286
    • 85198589439 scopus 로고    scopus 로고
    • Components of the Profitability of Technical Currency Trading
    • Schulmeister, Stephan (2007), “Components of the Profitability of Technical Currency Trading,” forthcoming in Applied Financial Economics.
    • (2007) Applied Financial Economics
    • Schulmeister, S.1
  • 287
    • 85023337907 scopus 로고
    • Noise Trading and the Ef­ficiency of Financial Markets
    • Giacomo Luciani (ed.), Rome: Quaderni della Fondazione Adriano Olivetti
    • Schulmeister, Stephan, and Michael D. Goldberg (1989), “Noise Trading and the Ef­ficiency of Financial Markets,” in Giacomo Luciani (ed.), The American Financial System: Between Euphoria and Crisis, Rome: Quaderni della Fondazione Adriano Olivetti, 117–53.
    • (1989) The American Financial System: Between Euphoria and Crisis
    • Schulmeister, S.1    Goldberg, M.D.2
  • 288
    • 0003971613 scopus 로고
    • English trans, Revers Opie, Cambridge, Mass.: Harvard University Press, 1932
    • Schumpeter, Joseph A. (1911), Theory of Economic Development, English trans, Revers Opie, Cambridge, Mass.: Harvard University Press, 1932.
    • (1911) Theory of Economic Development
    • Schumpeter, J.A.1
  • 289
    • 84993915037 scopus 로고
    • The Exchange Rate in the Presence of Transactions Costs: Implications for Tests of Purchasing Power
    • Sercu, Piet, Raman Uppal, and Cynthia Van Hulle (1995), “The Exchange Rate in the Presence of Transactions Costs: Implications for Tests of Purchasing Power,” Journal of Finance, 50, 1309–19.
    • (1995) Journal of Finance , vol.50
    • Sercu, P.1    Uppal, R.2    Van Cynthia Hulle, C.3
  • 290
    • 0003024602 scopus 로고
    • Rational Expectations and the Dynamic Structure of Macroeconomic Models: A Critical Review
    • Shiller, Robert J. (1978), “Rational Expectations and the Dynamic Structure of Macroeconomic Models: A Critical Review,” Journal of Monetar y Economics,4, 1–44.
    • (1978) Journal of Monetar Y Economics , vol.4
    • Shiller, R.J.1
  • 291
    • 85017459501 scopus 로고
    • The Volatility of Long-Term Interest Rates and Expectations Models of the Term Structure
    • Shiller, Robert J. (1979), “The Volatility of Long-Term Interest Rates and Expectations Models of the Term Structure,” Journal of Political Economy, 87, 1190–219.
    • (1979) Journal of Political Economy , vol.87
    • Shiller, R.J.1
  • 292
    • 0000893807 scopus 로고
    • Do Stock Prices Move Too Much to Be Justified by Subsequent Changes in Dividends?
    • Shiller, Robert J. (1981), “Do Stock Prices Move Too Much to Be Justified by Subsequent Changes in Dividends?” American Economic Review, 71, 421–36.
    • (1981) American Economic Review , vol.71
    • Shiller, R.J.1
  • 294
    • 0004179594 scopus 로고    scopus 로고
    • Princeton, N.J.: Princton University Press
    • Shiller, Robert J. (2000), Irrational Exuberance, Princeton, N.J.: Princton University Press.
    • (2000) Irrational Exuberance
    • Shiller, R.J.1
  • 295
    • 0004122659 scopus 로고    scopus 로고
    • Oxford: Oxford University Press
    • Shleifer, Andrei (2000), Inefficient Markets, Oxford: Oxford University Press.
    • (2000) Inefficient Markets
    • Shleifer, A.1
  • 296
    • 0030079302 scopus 로고    scopus 로고
    • Unconventional Preferences: Do They Explain the Foreign Exchange Risk Premia?
    • Sibert, Anne (1996), “Unconventional Preferences: Do They Explain the Foreign Exchange Risk Premia?,” Journal of International Money and Finance, 15, 149–65.
    • (1996) Journal of International Money and Finance , vol.15
    • Sibert, A.1
  • 298
    • 0004110659 scopus 로고
    • 1976 Edition, Oxford: Oxford University Press
    • Smith, Adam (1759), The Theory of Moral Sentiments, 1976 Edition, Oxford: Oxford University Press.
    • (1759) The Theory of Moral Sentiments
    • Smith, A.1
  • 300
    • 49549151896 scopus 로고
    • An Equilibrium Model of the International Capital Mar­ket
    • Solnik, Bruno H. (1974), “An Equilibrium Model of the International Capital Mar­ket,” Journal of Economic Theory,” 89, 500–524.
    • (1974) Journal of Economic Theory , vol.89
    • Solnik, B.H.1
  • 301
    • 38249041052 scopus 로고
    • Efficient Exchange Rate Forecasts: Lagged Models Better than the Random Walk
    • Somanath, V. S. (1986), “Efficient Exchange Rate Forecasts: Lagged Models Better than the Random Walk,” Journal of International Money and Finance, 5, 195–220.
    • (1986) Journal of International Money and Finance , vol.5
    • Somanath, V.S.1
  • 305
    • 0003230958 scopus 로고
    • The Natural Real Exchange Rate of the United States Dollar, and Determinants of Capital Flows
    • Jerome Stein and Polly Reynolds Allen (eds.), Oxford: Clarendon Press
    • Stein, Jerome L. (1995), “The Natural Real Exchange Rate of the United States Dollar, and Determinants of Capital Flows,” in Jerome Stein and Polly Reynolds Allen (eds.), Fundamental Determinants of Exchange Rates, Oxford: Clarendon Press, 38–84.
    • (1995) Fundamental Determinants of Exchange Rates
    • Stein, J.L.1
  • 306
    • 0001608293 scopus 로고
    • A Theory of Exchange Rate Determination
    • Stockman, Alan C. (1980), “A Theory of Exchange Rate Determination,” Journal of Political Economy, 88, 673–98.
    • (1980) Journal of Political Economy , vol.88
    • Stockman, A.C.1
  • 308
    • 0001778064 scopus 로고
    • Currency Prices, Terms of Trade, and Interest Rates: A General Equilibrium Asset Pricing Cash-in-Advance Approach
    • Svensson, Lars E. O. (1985), “Currency Prices, Terms of Trade, and Interest Rates: A General Equilibrium Asset Pricing Cash-in-Advance Approach,” Journal of International Economics, 18, 17–41.
    • (1985) Journal of International Economics , vol.18
    • Svensson, L.E.O.1
  • 309
    • 0000922266 scopus 로고
    • Excess Capacity, Monopo­listic Competition, and International Transmission of Monetar y Disturbances
    • Svensson, Lars E. O., and Sweder van Wijnbergen (1989), “Excess Capacity, Monopo­listic Competition, and International Transmission of Monetar y Disturbances,” Economic Journal, 99, 785–805.
    • (1989) Economic Journal , vol.99
    • Svensson, L.E.O.1    Van Wijnbergen, S.2
  • 310
    • 0001098597 scopus 로고
    • Exchange Rate Expectations: A Sur vey of Survey Studies
    • Takagi, Shinji (1991), “Exchange Rate Expectations: A Sur vey of Survey Studies,” International Monetary Fund Staff Papers, 38, 156–83.
    • (1991) International Monetary Fund Staff Papers , vol.38
    • Takagi, S.1
  • 312
    • 0003053945 scopus 로고
    • Aggregate Dynamics and Staggered Contracts
    • (a)
    • Taylor, John (1979a), “Aggregate Dynamics and Staggered Contracts,” Journal of Political Economy, 88, 1–24.
    • (1979) Journal of Political Economy , vol.88
    • Taylor, J.1
  • 313
    • 84959776155 scopus 로고
    • Staggered Price Setting in a Macro Model
    • (b)
    • Taylor, John (1979b), “Staggered Price Setting in a Macro Model,” American Economic Review, 69, 108–13.
    • (1979) American Economic Review , vol.69
    • Taylor, J.1
  • 314
    • 0042876459 scopus 로고
    • What Do Investment Managers Know? An Empirical Study of Practitioners’ Predictions
    • Taylor, Mark P. (1988), “What Do Investment Managers Know? An Empirical Study of Practitioners’ Predictions,” Economica, 54, 429–38.
    • (1988) Economica , vol.54
    • Taylor, M.P.1
  • 315
  • 316
    • 0034135003 scopus 로고    scopus 로고
    • Nonlinear Adjustment, Long-Run Equi­librium and Exchange Rate Fundamentals
    • Taylor, Mark P., and David A. Peel (2000), “Nonlinear Adjustment, Long-Run Equi­librium and Exchange Rate Fundamentals,” Journal of International Money and Finance, 19, 33–53.
    • (2000) Journal of International Money and Finance , vol.19
    • Taylor, M.P.1    Peel, D.A.2
  • 317
    • 0003045718 scopus 로고    scopus 로고
    • Nonlinear Mean-Reversion in Real Exchange Rates: Towards a Solution to the Purchasing Power Parity Puzzles
    • Taylor, Mark P., David A. Peel, and Lucio Sarno (2001), “Nonlinear Mean-Reversion in Real Exchange Rates: Towards a Solution to the Purchasing Power Parity Puzzles,” Internationl Economic Review, 42, 1015–42.
    • (2001) Internationl Economic Review , vol.42
    • Taylor, M.P.1    Peel, D.A.2    Sarno, L.3
  • 318
    • 0000630111 scopus 로고
    • Gambling with the House Money and Trying to Break Even: The Effects of Prior Outcomes in Risky Choice
    • Thaler, Richard H., and Eric Johnson (1990), “Gambling with the House Money and Trying to Break Even: The Effects of Prior Outcomes in Risky Choice,” Management Science, 36, 643–60.
    • (1990) Management Science , vol.36
    • Thaler, R.H.1    Johnson, E.2
  • 319
    • 0001022690 scopus 로고
    • On the Possibility of Speculation Under Rational Expectations
    • Tirole, Jean (1982), “On the Possibility of Speculation Under Rational Expectations,” Econometrica, 50, 1163–81.
    • (1982) Econometrica , vol.50
    • Tirole, J.1
  • 320
    • 84963108002 scopus 로고
    • Liquidity Preference as Behavior Towards Risk
    • Tobin, James (1958), “Liquidity Preference as Behavior Towards Risk,” Review of Economic Studies, 25, 15–29.
    • (1958) Review of Economic Studies , vol.25
    • Tobin, J.1
  • 322
    • 0001371984 scopus 로고
    • Rational Choice and the Framing of Decisions
    • Tversky, Amos, and Daniel Kahneman (1986), “Rational Choice and the Framing of Decisions,” Journal of Business, 59, S251–78.
    • (1986) Journal of Business , vol.59
    • Tversky, A.1    Kahneman, D.2
  • 323
    • 0001076162 scopus 로고
    • Loss Aversion in Riskless Choice: A Reference-Dependent Model
    • Tversky, Amos, and Daniel Kahneman (1991), “Loss Aversion in Riskless Choice: A Reference-Dependent Model,” Quarterly Journal of Economics, 106, 1039–61.
    • (1991) Quarterly Journal of Economics , vol.106
    • Tversky, A.1    Kahneman, D.2
  • 324
    • 31744450082 scopus 로고
    • Advances in Prospect Theory: Cumulative Representation of Un­certainty
    • Tversky, Amos, and Daniel Kahneman (1992), “Advances in Prospect Theory: Cumulative Representation of Un­certainty,” Journal of Risk and Uncertainty, 5, 297–323.
    • (1992) Journal of Risk and Uncertainty , vol.5
    • Tversky, A.1    Kahneman, D.2
  • 326
    • 0040451174 scopus 로고
    • 1994 Edition, Wolf Heydebrand (ed.), New York: Continuum
    • Weber, Max (1897), Sociological Writings, 1994 Edition, Wolf Heydebrand (ed.), New York: Continuum.
    • (1897) Sociological Writings
    • Weber, M.1
  • 329
    • 35348823187 scopus 로고    scopus 로고
    • Subjective Expectations and Asset-Return Puzzles
    • Weitzman, Martin L. (2007), “Subjective Expectations and Asset-Return Puzzles,” forthcoming in American Economic Review.
    • (2007) American Economic Review
    • Weitzman, M.L.1
  • 331
    • 84952496072 scopus 로고
    • Time-Varying Parameters and the Out-of-Sample Fore­casting Performance of Structural Exchange Rate Models
    • Wolf, Christian C. P. (1987), “Time-Varying Parameters and the Out-of-Sample Fore­casting Performance of Structural Exchange Rate Models,” Journal of Business and Economic Statistics, 5, 87–98.
    • (1987) Journal of Business and Economic Statistics , vol.5
    • Wolf, C.C.P.1
  • 332
    • 0011507157 scopus 로고
    • The Monetary Approach to Exchange Rate Determination under Rational Expectations
    • Woo, Wing T. (1985), “The Monetary Approach to Exchange Rate Determination under Rational Expectations,” Journal of International Economic, 18, 1–16.
    • (1985) Journal of International Economic , vol.18
    • Woo, W.T.1
  • 334
    • 0001261843 scopus 로고
    • Learning to Believe in Sunspots
    • Woodford, Michael (1990), “Learning to Believe in Sunspots,” Econometrica, 58, 277–307.
    • (1990) Econometrica , vol.58
    • Woodford, M.1
  • 336
    • 84867281738 scopus 로고
    • translated by Else Zeuthen. London: Longmans
    • Zeuthen, Frederik (1955), Economic Theory and Method, translated by Else Zeuthen. London: Longmans.
    • (1955) Economic Theory and Method
    • Zeuthen, F.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.