Heterodox
by George Dorgan
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Summary:
George Dorgan explains why currencies of countries with trade surpluses must appreciate over the long-term. Thanks to these surpluses, inflation and costs of companies rise more slowly than in other countries. In Forex a mean reversion does not exist, but only an inflation-adjusted reversion to the mean: a real exchange rate mean reversion or in short the "real mean reversion."
Topics:
George Dorgan considers the following as important: currencies, Featured, FX Theory, inflation-adjusted, Interest Rate Parity, mean reversion, Penn Effect, real exchange rate mean
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George Dorgan explains why currencies of countries with trade surpluses must appreciate over the long-term. Thanks to these surpluses, inflation and costs of companies rise more slowly than in other countries. In Forex a mean reversion does not exist, but only an inflation-adjusted reversion to the mean: a real exchange rate mean reversion or in short the "real mean reversion."George Dorgan explains why currencies of countries with trade surpluses must appreciate over the long-term. Thanks to these surpluses, inflation and costs of companies rise more slowly than in other countries. In Forex a mean reversion does not exist, but only an inflation-adjusted reversion to the mean: a real exchange rate mean reversion or in short the "real mean reversion."
Topics:
George Dorgan considers the following as important: currencies, Featured, FX Theory, inflation-adjusted, Interest Rate Parity, mean reversion, Penn Effect, real exchange rate mean
This could be interesting, too:
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