Trade war and the balanced trade-monetary theory

Tajdini, Saeid; Hamooni, Amir; Maghsoudi, Jamal; Jafari, Farzad; Lotfi Ghahroud, Majid

doi:10.22054/jmmf.2021.13842

فهرست نشریات

اخذ رتبه توسط نشریه پژوهش‌های رهبری آموزش از وزارت علوم، تحقیقات و فناوری

اخذ رتبه «الف» توسط نشریه پژوهشنامه معارف قرآنی از وزرات علوم، تحقیقات و فناوری

نشست مشورتی مسئولان مجلات علمی دانشگاه علامه‌طباطبائی

نتایج ارزیابی علمی نشریات دانشگاه علامه طباطبائی در سال ۱۴۰۱; 19عنوان موفق به دریافت رتبه الف شدند.

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	Trade war and the balanced trade-monetary theory
Journal of Mathematics and Modeling in Finance
دوره 1، شماره 2، اسفند 2021، صفحه 81-95 اصل مقاله (3.61 M)
نوع مقاله: Research Article
شناسه دیجیتال (DOI): 10.22054/jmmf.2021.13842
نویسندگان
Saeid Tajdini¹؛ Amir Hamooni²؛ Jamal Maghsoudi³؛ Farzad Jafari^* ⁴؛ Majid Lotfi Ghahroud⁵
¹Postdoc of Finance, Faculty of Economics, University of Tehran, Tehran, Iran
²Ph.D. candidate in Economics Department, University of Tehran, Iran
³Master of Science in Financial Management, University of Tehran, Tehran, Iran
⁴Department of management, University of Tehran, Tehran, Iran
⁵Department of Management, Faculty of financial management, University of Tehran, Tehran, Iran
چکیده
One of the longest-lasting controversies in the international macroeconomic literature is the purchasing power parity theory. It is the most controversial subject that has been tested with various econometric models in different timeframes and geographic data sets. It is a common assumption used regarding the exchange rate and the validity of the Law of One Price. The present article aimed to present a new model to estimate the fair value of exchange rate which is one of the most critical factors in trade balance among countries, based on balanced trade-monetary theory by assessing the under or over-valuation of currencies. We can assume that a country with a strong economy should have strong money and vice versa. The results showed undervaluation of the dollar versus Yuan, Pound and Yen by 1.41, 1.149, and 1.126 times, respectively in 2018. Therefore, among the U.K., China, and Japan, Japan and the U.K. had a better trade balance with the U.S. than China
کلیدواژه‌ها
GDP per-capita؛ balanced trade ratio؛ Balanced Trade-Monetary Theory؛ Purchasing Power Parity (PPP)؛ Consumer Price Index (CPI)

مراجع
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Trade war and the balanced trade-monetary theory