This paper estimates price and income elasticities for bilateral trade equations between Sweden and her eight major trading partners for the period 1960-2001. The methodology used here is the likelihood-based panel cointegration recently developed in the literature. Evidence is found that...

In this study we examine the fundamental linkages between a single currency pair. The studied pair is the Australia Dollar and Peru Nuevo Sol from the dates 1994 to 2017. We perform a cointegration analysis and test for structural breaks at an unknown point in time. The results show that during...

This paper proposes a hybrid monetary model of the dollar-yen exchange rate that takes into account factors affecting the conventional monetary model’s building blocks. In particular, the hybrid monetary model is based on the incorporation of real stock prices to enhance money demand stability...

This is a study of the co-integration between the Japanese yen and two sets of Asian currencies, i.e., currencies of the "Tigers"--Hong Kong, South Korea, Singapore, and Taiwan--and currencies of the ASEAN nations--Malaysia, Philippines, Thailand, and Singapore. Accounting for deviations from...

This paper examines the extent of misalignment of the real effective exchange rate (REER) of South African rand. With South Africa being an open emerging market economy closely linked with global markets, the country’s economy is susceptible to external shocks and changes in global trade...

This paper tackles the issue of cross-section dependence for the monetary exchange rate model in the presence of unobserved common factors using panel data from 1973 until 2007 for 19 OECD countries. Applying a principal component analysis we distinguish between common factors and idiosyncratic...

This study employs the ARDL cointegration approach in order to examine the impact of financial liberalization on the relationships between the exchange rate and share market performance in China. We discovered that cointegration has existed between the Shanghai A Share Index and the exchange...

We identify variables that help explain the persistent weakness of the Norwegian krone since 2016 within a fully simultaneous model of the underlying process driving the krone-euro exchange rate. In addition to a set of fundamental variables we consider non-traditional explanatory variables...

This paper tackles the issue of cross-section dependence for the monetary exchange rate model in the presence of unobserved common factors using panel data from 1973 until 2007 for 19 OECD countries. Applying a principal component analysis we distinguish between common factors and idiosyncratic...

This paper investigates the interaction between stock prices and real exchange rates by applying monthly data from Turkey for the period between January 2001 and September 2016. This study uses the autoregressive distributed lag (ARDL) model and the Error Correction Model (ECM) in order to...