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The Monetary Model of Exchange Rate Determination for South Africa
EconomiesThe disconnect between the exchange rate and its macroeconomic fundamentals has been extensively discussed in the literature. It nonetheless continues to pose theoretical and empirical challenges in the literature.
Simiso Msomi, Harold Ngalawa
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Panel cointegration and the monetary exchange rate model [PDF]
Economic Modelling, 2009 This paper re-examines the validity of the monetary exchange rate model during the post-Bretton Woods era for 18 OECD countries. Our analysis simultaneously considers the presence of both cross-sectional dependence and multiple structural breaks, which have not received much attention in previous studies of the monetary model.
Basher, Syed A., Westerlund, Joakim
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Monetary models of exchange rates and sweep programs [PDF]
Applied Financial Economics, 2009 Numerous studies find that monetary models of exchange rates cannot beat a random walk model. Such a finding, however, is not surprising given that such models are built upon money demand functions and traditional money demand functions appear to have broken down in many developed countries.
Rakesh K. Bissoondeeal +2 more
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Monetary Policy, Model Uncertainty and Exchange Rate Volatility [PDF]
SSRN Electronic Journal, 2010 This paper proposes an explanation of the shifts in the volatility of exchange rate returns that relies on standard present value exchange rate models. Agents are uncertain about the true data generating model and deal with the model uncertainty by making inference on the models and their parameters - a mechanism I call model learning. I show how model
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Rethinking the exchange rate disconnect puzzle theory in ASEAN-6
Economic Journal of Emerging Markets, 2017 The theory of the exchange rate disconnect puzzle provides evidence of the instability of exchange rate relationship with macroeconomic fundamentals.
Adhitya Wardhono +2 more
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South African Journal of Economic and Management Sciences, 2013 The monetary approach to the balance of payments is based on the assumption of a fixed exchange rate, while its approach to exchange rate determination is based on perfectly flexible exchange rate.
Emmanuel Ziramba
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Nexus of Gold Price-Exchange rate-interest rate-Oil Price: Lessons for Monetary Policy in Pakistan
NUML International Journal of Business & Management, 2021 This study aims to evaluate the links among gold price, oil price, exchange rate and interest rate in Pakistan. All these channels are interconnected and have impact on monetary policy of the country.
Muhammad Akbar +2 more
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Exchange Market Pressure and Monetary Policy: The Turkish Case
Ekonomika, 2020 The purpose of this study is to determine the relationship between monetary policy and the exchange market pressure index in Turkey for the 2002–2018 period with monthly data.
Ilyas Siklar, Aysegul Akca
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Inflation Targeting with Emphasis on Real Exchange Rate in Iran’s Economy [PDF]
فصلنامه پژوهشهای اقتصادی ایران, 2017 In general, the main objective of monetary policies is to stabilize the key macroeconomic variables, especially the inflation around its target. However, the role of some variables such as the real exchange rate can be important in optimal monetary ...
Mehdi Yazdani +2 more
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Buletin Ekonomi Moneter dan Perbankan, 2007 The objective of the study is to analyze the dynamic causal relationship pattern and the characteristic among the primary monetary variables and output under a different exchange rate systems, i.e the floating and managed floating exchange rate system ...
Latif Kharie
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