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Morgan-Mercer-Flodin model for long term trend analysis of currency exchange rates of some selected countries

Author

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  • A.W. Wijeratne
  • J.A. Karunaratne

Abstract

The Morgan-Mercer-Flodin (MMF) model has been used in this research to establish the long-term trends in fluctuations of the Sri Lankan Rupee, Indian Rupee, Chinese Yuan and Japanese Yen (base currencies) to US Dollars (USD). Levenberg-Marquardt algorithm was used to estimate the parameters of the model that provide consistent indication to the level of economic growth of the respective countries. Then, the long-term equilibrium of each currency (base) to the USD provides sufficient evidence for the level of relative stability of each currency. In the case of the harshest negative repercussions for the economies from such exchange rate fluctuations, the need to take urgent and appropriate economic policy measures in order for mitigating those repercussions is recommended.

Suggested Citation

  • A.W. Wijeratne & J.A. Karunaratne, 2014. "Morgan-Mercer-Flodin model for long term trend analysis of currency exchange rates of some selected countries," International Journal of Business Excellence, Inderscience Enterprises Ltd, vol. 7(1), pages 76-87.
    • Handle: RePEc:ids:ijbexc:v:7:y:2014:i:1:p:76-87
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    Cited by:

    1. Anindya Chakrabarty & Anupam De & Gautam Bandyopadhyay, 2016. "Horizon heterogeneity, institutional constraint and managerial myopia: a multi-frequency perspective on ELSS," International Journal of Business Excellence, Inderscience Enterprises Ltd, vol. 9(1), pages 18-47.

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