Modelling long-run equilibrium exchange rate in Botswana

Investigating the Short- run and Long-run Causality Relationship between the Exchange Rate Regime and the Real Exchange Rate Misalignment in the OPEC Countries

Real exchange rate misalignment means that the real exchange rate deviates from its equilibrium level and is the cause of many domestic and global economic problems. This index is considered as an important indicator in foreign competition and in case of adopting an inappropriate exchange rate regime; it may create economic instability and affect economic performance. This issue is important in...

DP 2002 / 02 Modelling the long - run real effective exchange rate of the New Zealand Dollar

Long- Run Movements of the Parallel Market Premium in the Pre-Exchange Rate Unification Period in Iran

The purpose of this paper is to explain the causes of long-run movements in the parallel market premium in the pre-and-post revolution Iranian economy. The paper suggests that the premium is affected by both real and monetary shocks. Non-spurious co-integration results indicate that negative oil revenue shocks and a revolution-induced exogenous capital outflow caused the parallel market paralle...

The Monetary Exchange Rate Model as a Long-Run Phenomenon

Pure time series-based tests fail to nd empirical support for monetary exchange rate models. In this paper we apply pooled time series estimation on a forwardlooking monetary model, resulting in parameter estimates which are in compliance with the underlying theory. Based on a panel version of the Engle and Granger (1987) two-step procedure we nd that the residuals of our pooled estimated model...

Monetary Policies, Exchange Rate Pass-through and Prices in Asian Economies: A Long and Short-run Analysis

Abstract T he financial crisis in 2007-2008 has turned into the most far-reaching international financial and economic crisis since the Great Depression. Indeed, the crisis-affected Asian countries experienced varying degrees of changes in the exchange rate and prices following an initial shock of sharp depreciation of their currencies in the second half of 1997. Moreover,...