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A reassessment of the long-run validity of the flexible price monetary exchange rate model

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A reassessment of the long-run validity of the flexible price monetary exchange rate model. / Abbott, Andrew James; De Vita, Glauco.
In: Economic Issues, Vol. 6, No. 1, 01.03.2001, p. 47-57.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Abbott, AJ & De Vita, G 2001, 'A reassessment of the long-run validity of the flexible price monetary exchange rate model', Economic Issues, vol. 6, no. 1, pp. 47-57. <http://www.economicissues.org.uk/Vol6.html#a4>

APA

Abbott, A. J., & De Vita, G. (2001). A reassessment of the long-run validity of the flexible price monetary exchange rate model. Economic Issues, 6(1), 47-57. http://www.economicissues.org.uk/Vol6.html#a4

Vancouver

Abbott AJ, De Vita G. A reassessment of the long-run validity of the flexible price monetary exchange rate model. Economic Issues. 2001 Mar 1;6(1):47-57.

Author

Abbott, Andrew James ; De Vita, Glauco. / A reassessment of the long-run validity of the flexible price monetary exchange rate model. In: Economic Issues. 2001 ; Vol. 6, No. 1. pp. 47-57.

Bibtex

@article{ef8c436363ff4f93b29ce8e2a8dcc0d1,
title = "A reassessment of the long-run validity of the flexible price monetary exchange rate model",
abstract = "In this article we employ the Pesaran and Shin (1999) structural cointegrating VAR methodology to reassess the monetary approach to exchange rate determination. This recently developed technique allows us to test directly the over-identifying restrictions of the long-run structural relations underlying the flexible price monetary model of the exchange rate. Using data for the German Mark-U.S. dollar and the Japanese Yen-U.S. dollar, we find for both exchange rates, that structural identification is rejected by the data, results that raise further doubts about the long-run validity of the monetary model.",
author = "Abbott, {Andrew James} and {De Vita}, Glauco",
year = "2001",
month = mar,
day = "1",
language = "English",
volume = "6",
pages = "47--57",
journal = "Economic Issues",
number = "1",

}

RIS

TY - JOUR

T1 - A reassessment of the long-run validity of the flexible price monetary exchange rate model

AU - Abbott, Andrew James

AU - De Vita, Glauco

PY - 2001/3/1

Y1 - 2001/3/1

N2 - In this article we employ the Pesaran and Shin (1999) structural cointegrating VAR methodology to reassess the monetary approach to exchange rate determination. This recently developed technique allows us to test directly the over-identifying restrictions of the long-run structural relations underlying the flexible price monetary model of the exchange rate. Using data for the German Mark-U.S. dollar and the Japanese Yen-U.S. dollar, we find for both exchange rates, that structural identification is rejected by the data, results that raise further doubts about the long-run validity of the monetary model.

AB - In this article we employ the Pesaran and Shin (1999) structural cointegrating VAR methodology to reassess the monetary approach to exchange rate determination. This recently developed technique allows us to test directly the over-identifying restrictions of the long-run structural relations underlying the flexible price monetary model of the exchange rate. Using data for the German Mark-U.S. dollar and the Japanese Yen-U.S. dollar, we find for both exchange rates, that structural identification is rejected by the data, results that raise further doubts about the long-run validity of the monetary model.

M3 - Journal article

VL - 6

SP - 47

EP - 57

JO - Economic Issues

JF - Economic Issues

IS - 1

ER -