TY  - JOUR
AU  - Alvarez,Fernando
AU  - Atkeson,Andrew
TI  - Money and Exchange Rates in the Grossman-Weiss-Rotemberg Model
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 5678
PY  - 1996
Y2  - July 1996
UR  - http://www.nber.org/papers/w5678
L1  - http://www.nber.org/papers/w5678.pdf
N1  - Author contact info:
Fernando E. Alvarez
University of Chicago
Department of Economics
1126 East 59th Street
Chicago, IL 60637
Tel: 773/702-4412
Fax: 773/702-8490
E-Mail: f-alvarez1@uchicago.edu

Andrew Atkeson
Bunche Hall 9381
Department of Economics
UCLA
Box 951477
Los Angeles, CA  90095-1477
Tel: 866/312-9770
Fax: 310/825-9528
E-Mail: andy@atkeson.net
AB  - We examine the impact of monetary injections in the Grossman-Weiss-Rotemberg Model and show that monetary shocks can lead to nominal exchange rates that are more volatile than inflation, money growth or interest rate differentials. Moreover, movements in real exchange rates following monetary injections can be persistent and nearly as large as movements in nominal exchange rates nominal exchange rates.
ER  -