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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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Bibliographic Details
Authors and Corporations: MacDonald, Ronald (Author), Taylor, Mark P. (Other)
Other Authors: Taylor, Mark P.
Type of Resource: E-Book
Language: Undetermined
published:
[S.l.] SSRN [2006]
Series: IMF Working Paper
Source: Verbunddaten SWB
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