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Emerging trends of financial markets integration : evidence from Pakistan

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A Markov-switching approach to measuring exchange market pressure

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A Markov-Switching Approach to Measuring Exchange Market Pressure

Kumah, Francis Y. - 2007

This paper characterizes exchange market pressure as a nonlinear Markov-switching phenomenon, and examines its dynamics in response to money growth and inflation over three regimes. The empirical results identify episodes of exchange market pressure in the Kyrgyz Republic and confirm the...

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