This paper analyzes the characteristics of the exchange rate fluctuations of major currencies in Korea and discusses the policy implications for its exchange rate system. The type of exchange rate regime has been at the center of economic debate due to economic globalization and liberalization. The choice of exchange rate regime has been regarded as critical to achieving sustainable economic growth and has important implications for the world economy.

While revaluation of the domestic currency results in decreased exports, a high unemployment rate and the distortion of overall production factor. Devaluation of exchange rate leads to the regulations of exports and the pressures of import liberalization from foreign countries, as well as price rise.

Accordingly, the Korean government should apply appropriate exchange rate policy in response to the currency crisis. The objective of this paper is to allow the government to participate in the foreign exchange market in a way that contributes to economic stability and promotes the development of the private sector's participation in foreign exchange.

序 言

第一章 序論

第二章 換率의 短期 變動要因
1. 要約
2. 換率決定理論 要約
3. 換率變動率의 計量經濟模型
4. 計量模型의 推定

第三章 換率 長期變動의 特性
1. 要約
2. 分析技法
3. 스펙트럼 分析
4. 回歸分析
5. 永久換率의 變動推移

第四章 政策示唆点
1. 換率調整의 速度
2. 地域通貨機構 形成에 대한 考慮
3. 外換危險에의 對備
4. 國際的인 供給攪亂과 換率運用
5. 主要換率 長期變動의 特性과 國際金融

參考文獻