Assessing Exchange Rate Hypotheses within Southern Africa (Hardback)
  • Assessing Exchange Rate Hypotheses within Southern Africa (Hardback)
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Assessing Exchange Rate Hypotheses within Southern Africa (Hardback)

(editor), (editor)
£65.00
Hardback 246 Pages / Published: 28/05/2004
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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.

Publisher: Taylor & Francis Ltd
ISBN: 9780754636427
Number of pages: 246
Weight: 460 g
Dimensions: 155 x 224 mm

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