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The Monetary Model of Exchange Rates: Evidence from the Canadian Float of the 1950s


  • Choudhry, Taufiq
  • Lawler, Phillip


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  • Choudhry, Taufiq & Lawler, Phillip, 1997. "The Monetary Model of Exchange Rates: Evidence from the Canadian Float of the 1950s," Journal of Macroeconomics, Elsevier, vol. 19(2), pages 349-362, April.
  • Handle: RePEc:eee:jmacro:v:19:y:1997:i:2:p:349-362

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    References listed on IDEAS

    1. Barro, Robert J, 1986. " U.S. Deficits since World War I," Scandinavian Journal of Economics, Wiley Blackwell, vol. 88(1), pages 195-122.
    2. Hayashi, Fumio & Sims, Christopher A, 1983. "Nearly Efficient Estimation of Time Series Models with Predetermined, but Not Exogenous, Instruments," Econometrica, Econometric Society, vol. 51(3), pages 783-798, May.
    3. Barro, Robert J, 1979. "On the Determination of the Public Debt," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 940-971, October.
    4. Kochin, Levis A. & Benjamin, Daniel K. & Meador, Mark, 1985. "The observational equivalence of rational and irrational consumers if taxation is efficient," Proceedings, Federal Reserve Bank of San Francisco, issue 7, pages 103-125.
    5. Haug, Alfred A., 1991. "The random walk hypothesis of consumption and time aggregation," Journal of Macroeconomics, Elsevier, vol. 13(4), pages 691-700.
    6. Bizer, David S. & Durlauf, Steven N., 1990. "Testing the positive theory of government finance," Journal of Monetary Economics, Elsevier, vol. 26(1), pages 123-141, August.
    7. Benjamin, Daniel K & Kochin, Levis A, 1982. "A Proposition on Windfalls and Taxes When Some but Not All Resources Are Mobile," Economic Inquiry, Western Economic Association International, vol. 20(3), pages 393-404, July.
    8. Hall, Robert E, 1988. "Intertemporal Substitution in Consumption," Journal of Political Economy, University of Chicago Press, vol. 96(2), pages 339-357, April.
    9. Huang, Chao-Hsi & Lin, Kenneth S., 1993. "Deficits, government expenditures, and tax smoothing in the United States: 1929-1988," Journal of Monetary Economics, Elsevier, vol. 31(3), pages 317-339, June.
    10. Durlauf, Steven N., 1991. "Spectral based testing of the martingale hypothesis," Journal of Econometrics, Elsevier, vol. 50(3), pages 355-376, December.
    11. Sahasakul, Chaipat, 1986. "The U.S. evidence on optimal taxation over time," Journal of Monetary Economics, Elsevier, vol. 18(3), pages 251-275, November.
    12. John M. Firestone, 1960. "Federal Receipts and Expenditures During Business Cycles, 1879-1958," NBER Books, National Bureau of Economic Research, Inc, number fire60-1, January.
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    Cited by:

    1. Works, Richard Floyd, 2016. "Econometric modeling of exchange rate determinants by market classification: An empirical analysis of Japan and South Korea using the sticky-price monetary theory," MPRA Paper 76382, University Library of Munich, Germany.
    2. M. Faizul Islam & Mohammad S. Hasan, 2006. "The Monetary Model of the Dollar-Yen Exchange Rate Determination: A Cointegration Approach," International Journal of Business and Economics, College of Business and College of Finance, Feng Chia University, Taichung, Taiwan, vol. 5(2), pages 129-145, August.
    3. Adawo, Monday A. & Effiong, Ekpeno L., 2013. "Monetary exchange rate model as a long-run phenomenon: evidence from Nigeria," MPRA Paper 46407, University Library of Munich, Germany.
    4. Sylviane GUILLAUMONT JEANNENEY & Emmanuelle ROUMEGOUS, 2003. "Exchange Rate Dynamics with Currency Substitution: the Case of Ghana, Paraguay and Uruguay," Working Papers 200302, CERDI.
    5. Abbott, Andrew & De Vita, Glauco, 2002. "Testing the long-run structural validity of the monetary exchange rate model," Economics Letters, Elsevier, vol. 75(2), pages 157-164, April.
    6. Joscha Beckmann, 2013. "Nonlinear Exchange Rate Adjustment and the Monetary Model," Review of International Economics, Wiley Blackwell, vol. 21(4), pages 654-670, September.
    7. Moersch, Mathias & Nautz, Dieter, 1998. "The monetary model of the exchange rate: A structural interpretation," SFB 373 Discussion Papers 1998,6, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.

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