Cayen, Jean-Philippe; Coletti, Donald; Lalonde, René; … - 2010
We use a novel approach to identify economic developments that drive exchange rates in the long run. Using a panel of … six quarterly U.S. bilateral real exchange rates Australia, Canada, the euro, Japan, New Zealand and the United Kingdom …, and cointegration analysis points to a long-run statistical relationship with the U.S. debt-to-GDP ratio, relative to all …