Banerjee, Prashanta K.; Rahman, Matiur - In: Journal of Developing Areas 43 (2009) 1, pp. 121-136
This paper studies the dynamics of the Taka-U.S.Dollar exchange rate for Bangladesh by augmenting the Quantity Theory of Money. The standard cointegration methodology (Engle and Granger, 1987) is employed in addition to the ARDL (Autoregressive Distributed Lag) procedure. The ADF and KPSS tests...