메뉴 건너뛰기




Volumn 18, Issue 4, 2000, Pages 436-450

Modeling the ECU against the U.S. Dollar: A structural monetary interpretation

Author keywords

Divisia money; Exchange rate modeling; Forecasting

Indexed keywords


EID: 0034416392     PISSN: 07350015     EISSN: 15372707     Source Type: Journal    
DOI: 10.1080/07350015.2000.10524883     Document Type: Article
Times cited : (22)

References (39)
  • 1
    • 0039095163 scopus 로고    scopus 로고
    • The Special Report on the Monetary Services Index Project of the Federal Reserve Bank of St Louis
    • Anderson, R. G., Jones, B. E., and Nesmith, T. D. (1997), “The Special Report on the Monetary Services Index Project of the Federal Reserve Bank of St Louis,” The Federal Reserve Bank of St. Louis Review, 79.
    • (1997) The Federal Reserve Bank of St. Louis Review , pp. 79
    • Anderson, R.G.1    Jones, B.E.2    Nesmith, T.D.3
  • 2
    • 0040726384 scopus 로고
    • A European Money Demand Function
    • P. Masson and M. P. Taylor, Cambridge, U.K.: Cambridge University Press
    • Artis, M. J., Bladen-Hovell, R. C., and Zhang, W. (1993), “A European Money Demand Function,” in Policy Issues in the Operation of Currency Unions, eds. P. Masson and M. P. Taylor, Cambridge, U.K.: Cambridge University Press, pp. 240-263.
    • (1993) Policy Issues in the Operation of Currency Unions , pp. 240-263
    • Artis, M.J.1    Bladen-Hovell, R.C.2    Zhang, W.3
  • 3
    • 84929064467 scopus 로고
    • The Changing Empirical Definition of Money: Some Estimates From a Model of the Demand for Money Substitutes
    • Belongia, M., and Chalfont, J. (1989), “The Changing Empirical Definition of Money: Some Estimates From a Model of the Demand for Money Substitutes,” Journal of Political Economy, 97, 387-397.
    • (1989) Journal of Political Economy , vol.97 , pp. 387-397
    • Belongia, M.1    Chalfont, J.2
  • 4
    • 85099272104 scopus 로고
    • Rational Expectations and the Exchange Rate
    • H. G. Johnson and J. A. Frenkel. Reading, MA: Addison-Wesley
    • Bilson, J. F. O. (1978), “Rational Expectations and the Exchange Rate,” in The Economics of Exchange Rates, eds. H. G. Johnson and J. A. Frenkel. Reading, MA: Addison-Wesley, pp. 75-96.
    • (1978) The Economics of Exchange Rates , pp. 75-96
    • Bilson, J.F.O.1
  • 5
    • 0002373493 scopus 로고
    • The Monetary Dynamics of Hyperinflation
    • M. Friedman, Chicago: University of Chicago Press
    • Cagan, P. (1956), “The Monetary Dynamics of Hyperinflation,” in Studies in the Quantity Theoiy of Money, ed. M. Friedman, Chicago: University of Chicago Press.
    • (1956) Studies in the Quantity Theoiy of Money
    • Cagan, P.1
  • 6
    • 0001126361 scopus 로고
    • Banking on Currency Forecasts: How Predictable Is the Change in Money?
    • Chinn, M., and Meese, R. (1995), “Banking on Currency Forecasts: How Predictable Is the Change in Money?” Journal of International Economics, 38, 161-178.
    • (1995) Journal of International Economics , vol.38 , pp. 161-178
    • Chinn, M.1    Meese, R.2
  • 7
    • 0001251352 scopus 로고
    • Best Linear Unbiased Interpolation, Distribution and Extrapolation of Time Series by Related Series
    • Chow, G., and Lin, A. (1971), “Best Linear Unbiased Interpolation, Distribution and Extrapolation of Time Series by Related Series,” Review of Economics and Statistics, 53, 372-375.
    • (1971) Review of Economics and Statistics , vol.53 , pp. 372-375
    • Chow, G.1    Lin, A.2
  • 8
    • 0001538928 scopus 로고
    • Exchange Rates, Financial Innovation and Divisia Money: The Sterling-Dollar Rate 1972-1990
    • Chrystal, K. A., and MacDonald, R. (1995), “Exchange Rates, Financial Innovation and Divisia Money: The Sterling-Dollar Rate 1972-1990,” Journal of International Money and Finance, 14, 493-514.
    • (1995) Journal of International Money and Finance , vol.14 , pp. 493-514
    • Chrystal, K.A.1    Macdonald, R.2
  • 10
    • 0000852872 scopus 로고
    • Expectations and Exchange Rate Dynamics
    • Dornbusch, R. (1976), “Expectations and Exchange Rate Dynamics,” Journal of Political Economy, 84, 1161-1176.
    • (1976) Journal of Political Economy , vol.84 , pp. 1161-1176
    • Dornbusch, R.1
  • 11
    • 0002489201 scopus 로고    scopus 로고
    • (1988), “Purchasing Power Parity,”
    • Stockton Press: New York
    • Dornbusch, R. (1988), “Purchasing Power Parity,” in The New Palgrave Dictionary of Economics, Stockton Press: New York, pp. 56-74.
    • The New Palgrave Dictionary of Economics , pp. 56-74
    • Dornbusch, R.1
  • 12
    • 0000013567 scopus 로고
    • Cointegration and Error Correction: Representation, Estimation and Testing
    • Engle, R., and Granger, C. (1987), “Cointegration and Error Correction: Representation, Estimation and Testing,” Econometrica, 55, 251-276.
    • (1987) Econometrica , vol.55 , pp. 251-276
    • Engle, R.1    Granger, C.2
  • 14
    • 84995733144 scopus 로고
    • On the Mark: A Theory of Floating Exchange Rates Based on Real Interest Differentials
    • Frankel, J. (1979), “On the Mark: A Theory of Floating Exchange Rates Based on Real Interest Differentials,” American Economic Review, 69, 610-622.
    • (1979) American Economic Review , vol.69 , pp. 610-622
    • Frankel, J.1
  • 15
    • 0000634137 scopus 로고
    • A Monetary Approach to the Exchange Rate: Doctrinal Aspects and Empirical Evidence
    • Frenkel, J. (1976), “A Monetary Approach to the Exchange Rate: Doctrinal Aspects and Empirical Evidence,” Scandinavian Journal of Economics, 78, 200-224.
    • (1976) Scandinavian Journal of Economics , vol.78 , pp. 200-224
    • Frenkel, J.1
  • 16
    • 0001489714 scopus 로고
    • Exchange Rates, Prices, and Money: Lessons From the 1920s,”
    • Frenkel, J. (1980), “Exchange Rates, Prices, and Money: Lessons From the 1920’s,” American Economic Review, Papers and Proceedings, 70, 235-242.
    • (1980) American Economic Review, Papers and Proceedings , vol.70 , pp. 235-242
    • Frenkel, J.1
  • 18
    • 0001637683 scopus 로고
    • Evaluating Econometric Models by Encompassing the VAR
    • P. C. Phillips, Oxford, U.K.: Blackwell
    • Hendry, D., and Mizon, G. E. (1993), “Evaluating Econometric Models by Encompassing the VAR,” in Models, Methods and Applications of Econometrics, ed. P. C. Phillips, Oxford, U.K.: Blackwell.
    • (1993) Models, Methods and Applications of Econometrics
    • Hendry, D.1    Mizon, G.E.2
  • 19
    • 0003055145 scopus 로고
    • An Empirical Analysis of the Monetary Approach to the Exchange Rate
    • H. G. Johnson and J. A. Frenkel, Reading, MA: Addison-Wesley
    • Hodrick, R. (1978), “An Empirical Analysis of the Monetary Approach to the Exchange Rate,” in The Economics of Exchange Rates, eds. H. G. Johnson and J. A. Frenkel, Reading, MA: Addison-Wesley, pp. 97-116.
    • (1978) The Economics of Exchange Rates , pp. 97-116
    • Hodrick, R.1
  • 21
    • 44049117018 scopus 로고
    • Testing Structural Hypothesis in a Multivariate Cointegration Analysis of the PPP and the UIP for the UK
    • Johansen, S., and Juselius, K. (1992a), “Testing Structural Hypothesis in a Multivariate Cointegration Analysis of the PPP and the UIP for the UK,” Journal of Econometrics, 53, 211-244.
    • (1992) Journal of Econometrics , vol.53 , pp. 211-244
    • Johansen, S.1    Juselius, K.2
  • 22
    • 84981579311 scopus 로고
    • Maximum Likelihood Estimation and Inference on Cointegration—With Applications to the Demand for Money
    • Johansen, S., and Juselius, K. (1992b), “Maximum Likelihood Estimation and Inference on Cointegration—With Applications to the Demand for Money,” Oxford Bulletin of Economics and Statistics, 52, 169-210.
    • (1992) Oxford Bulletin of Economics and Statistics , vol.52 , pp. 169-210
    • Johansen, S.1    Juselius, K.2
  • 25
    • 0013148655 scopus 로고
    • Interest Rates and Currency Prices in a Two-Country World
    • Lucas, R. E. (1982), “Interest Rates and Currency Prices in a Two-Country World,” Journal of Monetary Economics, 10, 335-360.
    • (1982) Journal of Monetary Economics , vol.10 , pp. 335-360
    • Lucas, R.E.1
  • 28
    • 21844516997 scopus 로고
    • Long-Run Purchasing Power Parity: Is it For Real?
    • MacDonald, R. (1993), “Long-Run Purchasing Power Parity: Is it For Real?” Review of Economics and Statistics, 75, 690-695.
    • (1993) Review of Economics and Statistics , vol.75 , pp. 690-695
    • Macdonald, R.1
  • 29
    • 0001703353 scopus 로고
    • Long-Run Exchange Rate Modeling: A Survey of the Recent Evidence
    • MacDonald, R. (1995), “Long-Run Exchange Rate Modeling: A Survey of the Recent Evidence,” Staff Papers, International Monetary Fund, 42, 3, 437-489.
    • (1995) Staff Papers, International Monetary Fund , vol.3 , pp. 437-489
    • Macdonald, R.1
  • 30
    • 0039768935 scopus 로고    scopus 로고
    • On Fundamentals and Exchange Rates: A Casselian Perspective
    • MacDonald, R., and Marsh, I. W. (1997), “On Fundamentals and Exchange Rates: A Casselian Perspective,” Review of Economics and Statistics, 79, 655-664.
    • (1997) Review of Economics and Statistics , vol.79 , pp. 655-664
    • Macdonald, R.1    Marsh, I.W.2
  • 31
    • 0002523215 scopus 로고
    • The Monetary Approach to the Exchange Rate: Rational Expectations, Long-Run Equilibrium and Forecasting
    • MacDonald, R., and Taylor, M. P. (1993), “The Monetary Approach to the Exchange Rate: Rational Expectations, Long-Run Equilibrium and Forecasting,” International Monetary Fund Staff Papers, 40, 89-107.
    • (1993) International Monetary Fund Staff Papers , vol.40 , pp. 89-107
    • Macdonald, R.1    Taylor, M.P.2
  • 32
    • 38149146963 scopus 로고
    • The Monetary Approach to the Exchange Rate: Long-Run Relationships, Short-Run Dynamics, and How to Beat a Random Walk
    • MacDonald, R., and Taylor, M. P. (1994), “The Monetary Approach to the Exchange Rate: Long-Run Relationships, Short-Run Dynamics, and How to Beat a Random Walk,” Journal of International Money and Finance, 13, 276-290.
    • (1994) Journal of International Money and Finance , vol.13 , pp. 276-290
    • Macdonald, R.1    Taylor, M.P.2
  • 33
    • 0002605543 scopus 로고
    • Monetary and Exchange Rate Policies for International Financial Stability: A Proposal
    • McKinnon, R. (1988), “Monetary and Exchange Rate Policies for International Financial Stability: A Proposal,” Journal of Economic Perspectives, 2, 83-103.
    • (1988) Journal of Economic Perspectives , vol.2 , pp. 83-103
    • McKinnon, R.1
  • 34
    • 0001413344 scopus 로고
    • Exchange Rates and Fundamentals: Evidence on Long-Horizon Predictability
    • Mark, N. (1995), “Exchange Rates and Fundamentals: Evidence on Long-Horizon Predictability,” American Economic Review, 85, 201-218.
    • (1995) American Economic Review , vol.85 , pp. 201-218
    • Mark, N.1
  • 35
    • 33846907054 scopus 로고
    • Empirical Exchange Rate Models of the Seventies: Do They Fit Out of Sample?
    • Meese, R., and Rogoff, K. (1983), “Empirical Exchange Rate Models of the Seventies: Do They Fit Out of Sample?” Journal of International Economics, 14, 3-24.
    • (1983) Journal of International Economics , vol.14 , pp. 3-24
    • Meese, R.1    Rogoff, K.2
  • 36
    • 49249151271 scopus 로고
    • Empirical Regularities in the Behaviour of Exchange Rates and Theories of the Foreign Exchange Market
    • (Carnegie-Rochester Conference Series on Public Policy), eds. K. Brunner and A. H. Meltzer, Amsterdam: North-Holland
    • Mussa, M. (1979), “Empirical Regularities in the Behaviour of Exchange Rates and Theories of the Foreign Exchange Market,” in Policies for Employment, Prices and Exchange Rates (Carnegie-Rochester Conference Series on Public Policy), eds. K. Brunner and A. H. Meltzer, Amsterdam: North-Holland, pp. 1-50.
    • (1979) Policies for Employment, Prices and Exchange Rates , pp. 1-50
    • Mussa, M.1
  • 37
    • 0000760775 scopus 로고    scopus 로고
    • Should the ECB Adopt a Divisia Monetary Aggregate?
    • Spencer, P. (1997), “Should the ECB Adopt a Divisia Monetary Aggregate?” European Economic Review, 41, 1403-1419.
    • (1997) European Economic Review , vol.41 , pp. 1403-1419
    • Spencer, P.1
  • 38
    • 0003802346 scopus 로고
    • Washington, DC: Institute for International Economics
    • Williamson, J. (1985), The Exchange Rate System, Washington, DC: Institute for International Economics.
    • (1985) The Exchange Rate System
    • Williamson, J.1
  • 39
    • 84952496072 scopus 로고
    • Time-Varying Parameters and the Out-of Sample Forecasting Performance of Structural Exchange Rate Models
    • Wolff, C. (1987), “Time-Varying Parameters and the Out-of Sample Forecasting Performance of Structural Exchange Rate Models,” Journal of Business & Economic Statistics, 5, 87-97
    • (1987) Journal of Business & Economic Statistics , vol.5 , pp. 87-97
    • Wolff, C.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.