The Development of Exchange Rate Theory and the Capability of its Empirical Verification
Abstract
The article states the presence in the theory of exchange rate some alternative conclusions and recommendations for the economic policy and explains that fact by the opposite interests of various producers groups and its reflection in the economic theory. Considering the theories of exchange rate, reflecting the interests of exporters, producers groups, interested in setting higher exchange rate of national currency, representatives of the speculative capital. The possibility of development of exchange rate theory released from any political and ideological conditions is analyzed.
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Economic methodology
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.