haku: @author Nagayasu, J. / yhteensä: 2
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| Tekijä: | MacDonald, R. Nagayasu, J. |
| Otsikko: | On the Japanese Yen - U.S.Dollar exchange rate: a structural econometric model based on real interest differentials |
| Lehti: | Journal of the Japanese and International Economies
1998 : MAR, VOL. 12:1, p. 75-102 |
| Asiasana: | JAPAN USA EXCHANGE RATES |
| Kieli: | eng |
| Tiivistelmä: | In this paper the short- and long-run movements of the Japanese yen-U.S. dollar exchange rate are modeled for the recent floating period. The modern general-to-specific approach is used a the authors' econometric framework. In contrast to some other exchange rate studies, the authors attempt to interpret multiple cointegrating vectors using economic theory. Amongst the authors' findings are sensible and significant long-run relationships and economic equations which describe the motion of the two-exchange rates and which satisfy a battery of diagnostic tests. |
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