MACROECONOMIC POLICY OF CURRENCY WAR: METHODS OF INVESTIGATION

Abstract

The article is devoted to the methods of investigation of a modern international monetary and finance field for some countries which would participate in currency war. Usually currency wars are used in order to achieve some competitive advantages in international trade relations. Real effective exchange rate index was used as the key instrument in our analysis. It reflects a nominal exchange rate and the main trade partners’ structure as well. Moreover, some macroeconomic and finance indices were used. The methods of investigation are cluster and panel data analyses. The period of investigation is 1990-2012. The result of analysis is connected with showing differences in countries’ possibility of implementing monetary policy instruments to improve their competitiveness.

Keywords

• монетарная политика
• валютная война
• реальный эффективный валютный курс
• monetary policy
• currency war
• real effective exchange rate