First published in 2007. Exchange Rate Economics: Theories and Evidence is the second
edition of Floating Exchange Rates: Theories and Evidence, and builds on the successful …

This paper investigates the temporal stability of the relationship between the
Deutschmark/US dollar exchange rate and macroeconomic fundamentals. We use monthly …

This study attempts to re-examine the Granger non-causality from exchange rates to
observed fundamentals based on the present value model of Engel and West (2005). To this …

In this paper, I consider modeling the effects of the macroeconomic determinants on the
nominal exchange rate to be channeled through the transition probabilities in a Markovian …

This paper examines whether the exchange rates of the Asia-Pacific countries can be
captured by the Markov switching model (MSM). Using data from January 2000 to December …

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 …

Although the literature on purchasing power parity (PPP) is rich in controversy, the relative
contribution of prices and nominal exchange rates to real exchange rate movements which …

In this paper we analyze the existence of nonlinear relationships between macroeconomic
fundamentals and exchange rates for some major industrialized countries using an error …

This study analyzes the relationship between the dollar–euro exchange rate and
macroeconomic fundamentals according to the monetary model after 1999. Multivariate and …

This study analyzes the dynamics between real effective exchange rates and current
accounts from a novel perspective. We start by dissecting long‐run and time‐varying short …