The monetary model of exchange rate: evidence from The Philippines

Chin Lee (), M Azali, Zulkornain Yusop and Mohammed Yusoff
Authors registered in the RePEc Author Service: M. Azali

Applied Economics Letters, 2007, vol. 14, issue 13, 993-997

Abstract: This note examines the empirical validity of the monetary model of exchange rate determination for The Philippines via cointegration and vector error-correction model. It is found that the monetary model is a valid framework for the long-run exchange rate between Philippines peso-US Dollar exchange rate. However, the typical linear restrictions of flexible-price monetary model and proportionality between the exchange rate and relative money are rejected.

Date: 2007
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Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:14:y:2007:i:13:p:993-997

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DOI: 10.1080/13504850600706032

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