MONETARY APPROACH TO EXCHANGE RATE DETERMINATION: The Case of Argentina, Brazil, Taiwan and Turkey, 1986-2006

Idil Uz Akdogan and Mehrin Dalan

Applied Econometrics and International Development, 2009, vol. 9, issue 2

Abstract: This study evaluates the short-run and long-run performance of the monetary model approach of exchange rate determination for the emerging economies like Argentina, Brazil, Taiwan and Turkey. The study is based on whether there is a cointegration relationship between the nominal exchange rate and the monetary variables such as the money supply, the output, the nominal interest rate and the price differentials. Various estimation techniques are used for testing long-run relationship both for single-country analysis and panel analysis.

Keywords: Exchange rates; monetary fundamentals; cointegration; panel analysis (search for similar items in EconPapers)
JEL-codes: F31 (search for similar items in EconPapers)
Date: 2009
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