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- W3027520330 abstract "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. The empirical results indicate that the monetary model emerges only when the presence of structural breaks and cross-country dependence has been taken into account. Evidence is also provided suggesting that the breaks in the monetary model can be derived from the underlying purchasing power parity relation." @default.
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- W3027520330 date "2008-09-12" @default.
- W3027520330 modified "2023-09-29" @default.
- W3027520330 title "Panel Cointegration and the Monetary Exchange Rate Model" @default.
- W3027520330 hasPublicationYear "2008" @default.
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