Testing the long-run validity of the monetary approach to the exchange rate: the won-US

Dollar Case

Applied Economics Letters, 1998, vol. 5, issue 8, 507-511

Abstract: This paper examines via cointegration techniques the empirical validity of the monetary model of exchange rate determination as a long-run equilibrium condition for the Korean won-U.S. dollar rate over the recent period of economic liberalization in Korea. Using monthly data from 1980 to 1995, it is found that the unrestricted version of the monetary model provides a valid framework for analysing long-run movements in the exchange

Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:5:y:1998:i:8:p:507-511

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DOI: 10.1080/135048598354447

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