Sarno, Lucio; Valente, Giorgio; Wohar, Mark E. - In: Economic Inquiry 42 (2004) 2, pp. 179-193
We investigate the dynamic relationship between the U.S. dollar exchange rate and its fundamentals across different exchange rate regimes using data from the late 1800s or early 1900s for six countries. For these countries there is evidence of a long-run relation between the exchange rate and...
