Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/68119
Authors: 
Ferreira, José Eduardo de A.
Year of Publication: 
2006
Series/Report no.: 
Department of Economics Discussion Paper, University of Kent 06,03
Abstract: 
This paper tests the traditional monetary model of exchange rates for a sample of industrialized and emerging market economies by making use of panel techniques that allow for a high degree of heterogeneity across countries. The results demonstrated partial support for the monetary model for industrialised market economies but not for emerging ones. This constitutes a puzzle as it would expect countries with greater monetary instability to show a stronger association between exchange rates and monetary fundamentals.
Subjects: 
Foreign Exchange
Fundamentals
Panel Data
Unit Roots
Assets
JEL: 
F31
F37
F41
Document Type: 
Working Paper

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