The monetary model of the exchange rate and equities: an ARDL bounds testing approach
This study examines a version of the monetary model of the exchange rate, which incorporates a stock price measure. Using the ARDL Bounds testing approach, we produce evidence of cointegration, well-specified ECMs and forecasts that outperform a random walk.
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Volume (Year): 17 (2007)
Issue (Month): 5 ()
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