A Comparison of Two Alternative Monetary Approaches to Exchange Rate Determination over the Long-Run
The aim of this paper is to compare the conventional monetary model of the exchange rate with an alternative model, which incorporates a stock price measure and is based on Friedman‟s money demand function. These models are then compared using data from the UK, Canada and the USA, applying the Au...
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| Format: | Article |
| Language: | English |
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Econometric Research Association
2009-09-01
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| Series: | International Econometric Review |
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| Online Access: | http://www.era.org.tr/makaleler/188003.pdf |