A monetary analysis of the Drachma/ECU exchange rate determination, 1980-1991
The validity of the monetary approach to the Drachma/ECU exchange rate determination is investigated through cointegration, impulse response and variance decomposition analysis. The empirical results reported confirm recent findings that the monetary approach may be interpreted as a long-run equilibrium condition with highly complex short-run dynamics.
Volume (Year): 25 (2000)
Issue (Month): 4 ()
|Note:||received: November 1997/Final version received: May 2000|
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|Order Information:||Web: http://www.springer.com/economics/econometrics/journal/181/PS2|
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