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Is the Monetary Model Useful in Explaining Exchange Rates? - Panel Cointegration Evidence
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Ahn, ByungChul | - |
dc.contributor.author | Oh, KeunYeob | - |
dc.date.accessioned | 2009-01-28T01:03:22Z | - |
dc.date.available | 2009-01-28T01:03:22Z | - |
dc.date.issued | 2001-04 | - |
dc.identifier.citation | Seoul Journal of Economics, Vol.14 No.2, pp. 169-182 | - |
dc.identifier.issn | 1225-0279 | - |
dc.identifier.uri | https://hdl.handle.net/10371/1247 | - |
dc.description.abstract | A number of studies have sought to provide a reasonable explanation for exchange rate determination. The most frequently used approach is based on monetary models. However, it is difficult to find a cointegration relationship between exchange rates and relative differentials of money and income using this approach. This does not mean that a cointegration relationship does not exist. Conventional single equation approaches simply have a low performance power. We employed the panel cointegration approach to overcome this potential problem. We formulated a system of monetary models for 8 nations and found that cointegration relationships existed. Given these cointegration relationships, we estimated cointegrating vectors that are consistent with theoretical signs and magnitude. | - |
dc.language.iso | en | - |
dc.publisher | Institute of Economic Research, Seoul National University | - |
dc.subject | monetary model | - |
dc.subject | panel cointegration | - |
dc.title | Is the Monetary Model Useful in Explaining Exchange Rates? - Panel Cointegration Evidence | - |
dc.type | SNU Journal | - |
dc.contributor.AlternativeAuthor | 안병철 | - |
dc.contributor.AlternativeAuthor | 오근엽 | - |
dc.citation.journaltitle | Seoul Journal of Economics | - |
dc.citation.endpage | 182 | - |
dc.citation.number | 2 | - |
dc.citation.pages | 169-182 | - |
dc.citation.startpage | 169 | - |
dc.citation.volume | 14 | - |
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