Poon, Wai-Ching - In: The IUP Journal of Monetary Economics VI (2008) 3, pp. 40-50
This paper employs the bounds testing approach for cointegration analysis (Pesaran et al., 2001) to examine the impact of interest rate and exchange rate on output, and then uses the estimated weights to construct Monetary Conditions Index (MCI) for Singapore over the quarterly period 1981-2004....