In this paper; several models of exchange rate determination are applied to the Singapore-US exchange rate. A composite model, synthesising elements of the portfolio-balance and monetary models, is found to yield more satisfactory estimates and better out-of-sample forecasts than the...

This paper examines the Aghion and Howitt (1992) ''creative destruction'' endogenous growth model in an open economy setting. We consider four alternative trade regimes. The first two regimes allow the monopoly producer of the intermediate good to attain worldwide monopoly rents. In the first of...