The Role of Fundamentalists and Technicians in Exchange Rate Determination

Imad A. Moosa () and Marta Korczak
Additional contact information
Imad A. Moosa: Department of Accounting and Finance, Monash University, Postal: PO Box 197 Caulfield East 3145 Victoria, Australia, http://www.monash.edu.au/
Marta Korczak: Commonwealth Bank of Australia, Postal: GPO Box 41, Sydney, NSW, 2001 Australia, http://www.commbank.com.au/

Economia Internazionale / International Economics, 2000, vol. 53, issue 1, 97-106

Abstract: A model relating changes in the exchange rate to the activities of fundamentalists and technicians is specified and estimated. The results show that both types of traders play a role in exchange rate determination and that fundamentalists play a bigger role. The results of model selection tests reveal that models based on the activities of fundamentalists only or technicians only are misspecified.

JEL-codes: C52 F31 G15 (search for similar items in EconPapers)
Date: 2000
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