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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| Formato: | Periódico |
| Idioma: | English |
| Publicado em: |
Washington, D.C. :
International Monetary Fund,
1992.
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| Colecção: | IMF Working Papers; Working Paper ;
No. 1992/034 |
| Acesso em linha: | Full text available on IMF |