A Fundamental Analysis of Exchange Rates. The Theory of the Exchange Value of Money

• Autorzy: Mieczysław Dobija
• Języki publikacji: EN

Abstrakty

EN

The purpose of this paper was to present a theory of the value of money relevant to the realities of contemporary economic systems. Labour constitutes an economic value, therefore wages and wage productivity are a source of the value of money. This thought was expressed in a set of mathematical formulas addressing the question of the value of money in the aspect of foreign exchange. The main result of the presented research is a model that determines the exchange rate as a function of inflation and wage productivity parities. Consequently, the PPP hypothesis was generalised by way of including additional variables to the exchange rate model. (fragment of original text)

Słowa kluczowe

EN

Exchange rates; Exchange rate theory; Fundamental analysis; Value of money

PL

Kurs walutowy; Teoria kursu walutowego; Analiza fundamentalna; Wartość pieniądza

• Czasopismo: Argumenta Oeconomica Cracoviensia
• Rocznik: 2001
• Numer: no 1
• Strony: 63--84

Twórcy

autor

Mieczysław Dobija

• Cracow University of Economics, Poland

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