The Monetary Approach to the Exchange Rate : Rational Expectations, Long-Run Equilibrium and Forecasting /
We re-examine the monetary approach to the exchange rate from a number of perspectives, using monthly data on the deutschemark-dollar exchange rate. Using the Campbell-Shiller technique for testing present value models, we reject the restrictions imposed upon the data by the forward-looking rational...
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| Format: | Tidsskrift |
| Sprog: | English |
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Washington, D.C. :
International Monetary Fund,
1992.
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| Serier: | IMF Working Papers; Working Paper ;
No. 1992/034 |
| Online adgang: | Full text available on IMF |