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Testing the long-run structural validity of the monetary exchange rate model

Research output: Contribution to Journal/MagazineJournal articlepeer-review

<mark>Journal publication date</mark>30/04/2002
<mark>Journal</mark>Economics Letters
Issue number2
Number of pages8
Pages (from-to)157-164
Publication StatusPublished
Early online date3/01/02
<mark>Original language</mark>English


Using a recently developed econometric technique, we test the validity of the over-identifying restrictions of the long-run structural relations underlying the flex-price monetary model of the exchange rate. Our main finding is that, for the Canadian–US dollar, structural identification is rejected by the data.