Exchange Rate Determination: The Case of Singapore
In this paper; several models of exchange rate determination are applied to the Singapore-US exchange rate. A composite model, synthesising elements of the portfolio-balance and monetary models, is found to yield more satisfactory estimates and better out-of-sample forecasts than the conventional models. The results suggest that it is a fairly good approximation to model the exchange rate determination process in Singapore as though official intervention played a relatively minor role (compared to prevailing market forces).
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|Date of creation:||1989|
|Date of revision:|
|Contact details of provider:|| Postal: Adelaide SA 5005|
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Web page: http://www.economics.adelaide.edu.au/
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