Assessing Exchange Rate Hypotheses Within Southern Africa

Compartir en:

Allen, David

(0 Comentarios)
Comenta y valora este libro

pvp.85,72 €

Disponible entre 11 y 20 dias

ISBN:9780754636427
Editorial: Ashgate
Fecha de la edición:2004
Encuadernación:
Dimensiones: 0 cm x 0 cm
Nº Pág.:220
Idiomas:Ingles,Inglés

Materias:

/ Estructura Económica

Assessing Exchange Rate Hypotheses within Southern Africa focuses on fourteen Southern African Development Community countries (SADC). It features a set of tests of the purchasing power parity (PPP) theorem and the uncovered interest rate parity (UIP) theorem amongst these countries using the very latest time-series econometrics techniques. The analysis employs the Full Information Maximum Likelihood Multivariate Co-integration methodology developed by Johansen (1988, 1991) and Johansen and Juselius (1990, 1991). Of novel interest is the application of a long run structural modeling approach first suggested by Pesaran and Shin (1997). The technique imposes independent theory restrictions on the coefficients of the accepted co-integrating vectors based on long-run economic theory, in order to reach conclusions apropos the validity of the propositions under study. It demonstrates an application of the most recent modeling tools in time-series econometrics