Tests of different monetary aggregates for the monetary models of the exchange rate in five ASEAN countries

Chin Lee (), Muzafar Shah Habibullah and M Azali
Authors registered in the RePEc Author Service: M. Azali

Applied Economics, 2009, vol. 41, issue 14, 1771-1783

Abstract: This study examines the usefulness of divisia money, relative to simple sum money, for exchange rate modelling in a period of rapid financial deregulation. This comparison is conducted using the monetary model of the exchange rate. In the long-run modelling, the divisia money is significantly superior to simple sum money in the case of Malaysia and the Philippines while indifferent for Indonesia, Singapore and Thailand.

Date: 2009
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DOI: 10.1080/00036840902845517

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