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- W2126675651 abstract "This paper reopens the subject of currency preferences while modeling theexchange rates among three major currencies - the US dollar, the euro andthe Japanese yen. The exchange rate model presented in this paper includesnot only traditional determinants of bilateral exchange rates but incorporatesthird-currency effects in addition. The obtained estimation results areinterpreted from the perspective of possible currency substitution andcomplementarity relationships. We find evidence of currency complementaritybetween the yen and the euro, and currency substitution of the dollar forboth the euro and the yen. The estimated third-currency effects are consistentwith our findings on currency substitution and complementarity among thethree major currencies." @default.
- W2126675651 created "2016-06-24" @default.
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- W2126675651 date "2007-04-01" @default.
- W2126675651 modified "2023-09-28" @default.
- W2126675651 title "Currency Preferences in a Tri-Polar Model of Foreign Exchange" @default.
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