exchange rate to one of the politically most important exchange rates, the exchange rate of the US dollar vis-à-vis the euro …-periods. -- Structural exchange rate models ; cointegration ; structural breaks ; switching regression ; time-varying coefficient approach …

exchange rate to one of the politically most important exchange rates, the exchange rate of the US dollar vis-à-vis the euro …. -- Structural exchange rate models ; cointegration ; structural breaks ; switching regression ; time-varying coefficient approach …

At the beginning of 1999 the euro was launched as a common currency in 11 European countries. This paper addresses … empirically the medium to long-term forces driving the real euro-dollar exchange rate. Constructing a synthetic euro …-dollar exchange rate over a period from 1975 to 1998 and applying cointegration approaches, four factors are identified as fundamental …

a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both for … identification of changes in the role of the euro during 1999 compared to the aggregate of euro predecessor currencies, net of intra … -euro area assets/liabilities, before stage 3 of EMU. A number of key factors determining the currency distribution of …

exchange rate to one of the politically most important exchange rates, the exchange rate of the US dollar vis-à-vis the euro …

cointegration vector that is consistent with the triangular arbitrage condition. In a first step, it is theoretically derived under … yield that periods of strong comovements of the US dollar and Pound sterling based upon the Euro prevail during the 1990s … and periods of comovements of Euro and Pound sterling denominated in US dollar prevail since the introduction of the Euro …

models confirm the absence of asymmetric cointegration, hence leading to the conclusion that in the case of Nigeria, there …