exchange rate. The separate estimation of long-run money demands leads to a "structural" error correction equation which allows …

, and the Deutschmark-US dollar. The estimation results for both models show: (i) that the unrestricted model outperforms …

problem of online estimation of current values of w = w(T) and a = a(T) from the observations SI , ... ,ST. We propose an … adaptive method of estimation which does not use any information about time homogeneity of the obscured process. We apply this …