NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Dale Henderson

Georgetown University

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NBER Working Papers and Publications

1988Roundtable on Exchange Rate Policy
with Stanley W. Black, John Williamson
in Misalignment of Exchange Rates: Effects on Trade and Industry, Richard C. Marston, editor
March 1984The Specification and Influence of Asset Markets
with William H. Branson: w1283
This paper is a chapter in the forthcoming Handbook of International Economics. It surveys the literature on the specification of models of asset markets and the implications of differences in specification for the macroeconomic adjustment process. Builders of portfolio balance models have generally employed "postulated" asset demand functions, rather than deriving these directly from micro foundations. The first major sec-tion of the paper lays out a postulated general specification of asset markets and summarizes the fundamental short-run results of portfolio balance models using a very basic specification of asset markets. Then,rudimentary specifications of a balance of payments equation and goods market equilibrium conditions are supplied, so that the dynamic distribution effects of th...

Published: Branson, William H. and Dale W. Henderson. "The Specification and Influence of Asset Markets." Handbook of International Economics, edited by Ronald W. Jones and Peter B. Kenen, (Fall 1984), North - Holland, Amsterdam.

1984Exchange Market Intervention Operations: Their Role in Financial Policy and Their Effects
in Exchange Rate Theory and Practice, John F. O. Bilson and Richard C. Marston, editors
 
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