purchasing power parity exchange rate theory
- purchasing power parity exchange rate theory
Købekraftsparitetsteorien, udviklet af den svenske økonom Gustav Cassel, antager, at valutakursudviklingen afspejler forskelle i udviklingen af landenes prisniveauer. På et effektivt marked vil der være tendens til, at valutakurserne udvikler sig hen imod en ligevægt, for at konkurrenceforholdet mellem landene ikke skal forrykkes. Argumentet er, at der via under- eller overskud på handelsbalancen vil blive skabt betalingsstrømme, der vil genoprette balancen mellem pris- og valutakursudviklingen. Empirisk viser det sig, at købekraftsparitet kun eksisterer på langt sigt, og de kortsigtede afvigelser må tilskrives faktorer såsom renteudviklingen, forventningerne til den økonomiske aktivitet, politiske begivenheder m.v. Se også real exchange rate.
Anglo-danske finansiel ordbog.
2013.
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