An empirical analysis of the effect of monetary disequilibria in open economies |
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| Authors: | Cyrus Sassanpour Jeffrey Sheen |
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| Affiliation: | International Monetary Fund, Washington, DC 20431, USA;University of Essex, Colchester C04 3SQ, UK |
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| Abstract: | ![]()
A dynamic disequilibrium simultaneous-equation econometric model for France and West Germany is set up, estimated and simulated to consider the ways in which disequilibrium in the money markets is eliminated. The results provide suggestive evidence to support the monetary approach to the balance of payments. |
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