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RBA Glossary definition for floating exchange rate
floating exchange rate – Exchange rates determined by market forces based on the demand for and supply of a currency.
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Estimation
31 Dec 2013
RDP
2013-09
This is somewhat earlier than the starting date for most Australian DSGE models, which typically use data spanning the period after the adoption of a floating exchange rate in 1983 or ... Value. Description. β. 0.99. Discount factor. δ. 0.02.
https://www.rba.gov.au/publications/rdp/2013/2013-09/estimation.html