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...
|Authors and Corporations:||,|
|Other Authors:||Taylor, Mark P.|
|Type of Resource:||E-Book|
[S.l.] SSRN 
IMF Working Paper