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Comments On ‘Uncovered Interest Rate Parity Condition between the United States and Europe under Different Exchange Rate Regimes’ by Gebhard Kirchgässner and Jürgen Wolters

In: Monetary Theory and Monetary Policy

Author

Listed:
  • George Hadjimatheou

Abstract

The contribution in this chapter consists of a series of statistical tests of both the uncovered interest rate parity hypothesis and a looser hypothesis of a long-run relationship between the USA and European interest rates. Although tests of these hypotheses have been carried out before, there is some novelty in this work in that most of the adopted testing arises from the recently-developed modelling approaches of co-integration and error-correction mechanism. It must be noted, however, that because the proposed testing procedures following these developments are still under a great deal of discussion any results based on them should be interpreted with caution.

Suggested Citation

  • George Hadjimatheou, 1993. "Comments On ‘Uncovered Interest Rate Parity Condition between the United States and Europe under Different Exchange Rate Regimes’ by Gebhard Kirchgässner and Jürgen Wolters," Palgrave Macmillan Books, in: Stephen F. Frowen (ed.), Monetary Theory and Monetary Policy, pages 298-302, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-23096-9_19
    DOI: 10.1007/978-1-349-23096-9_19
    as

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