Diamantis, Panayiotis; Georgoutsos, Dimitris; Kouretas, … - Department of Economics, University of Crete - 2001
This paper re-examines the long-run properties of the monetary exchange rate model in the presence of a parallel or black market for U.S. dollars in two Latin American countries under the twin hypotheses that the system contains variables that are I(2) and that a linear trend is required in the...