Sichei, Moses M.; Gebreselasie, Tewodros G.; Akanbi, … - Department of Economics, Faculty of Economic and … - 2005
Modeling the nominal exchange rate has been one of the most difficult exercises in economics. This paper attempts to estimate the nominal rand-USD exchange rate under the Dornbusch(1980) and Frankel (1979) overshooting model using the Johansen cointegration technique. The overshooting model fits...