Bitzenis, Aristidis; Marangos, John - In: International Journal of Monetary Economics and Finance 1 (2007) 1, pp. 57-88
The flexible-price monetary model is examined for the Greek drachma-US dollar exchange rate. The Johansen multivariate technique of co-integration is applied to an unrestricted form of the monetary model. Using quarterly data covering the period 1974?1994, strong evidence is found in favour of...
