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Nominal effective exchange rate neutrality: the case of Macedonia

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  • Josheski, Dushko
  • Lazarov, Darko

Abstract

This paper uses quarterly data on Macedonian nominal effective exchange rate for the time period 1992 to 2009 along with six other variables to investigate the nominal effective exchange rate neutrality. SVAR and Impulse response functions had been used to prove the hypothesis. Empirical evidence in this paper supports the nominal exchange rate neutrality in the case of Macedonia.

Suggested Citation

  • Josheski, Dushko & Lazarov, Darko, 2012. "Nominal effective exchange rate neutrality: the case of Macedonia," MPRA Paper 37994, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:37994
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    References listed on IDEAS

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    5. Caporale, Guglielmo Maria & Pittis, Nikitas, 1995. "Nominal exchange rate regimes and the stochastic behavior of real variables," Journal of International Money and Finance, Elsevier, vol. 14(3), pages 395-415, June.
    6. Fisher, Mark E & Seater, John J, 1993. "Long-Run Neutrality and Superneutrality in an ARIMA Framework," American Economic Review, American Economic Association, vol. 83(3), pages 402-415, June.
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    More about this item

    Keywords

    NEER; SVAR; Impulse response functions;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange

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