Money-supply turbulence and exchange-rate turbulence: Some empirical results |
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Authors: | Eliakim Katz |
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Institution: | Bar-Ilan University, Israel |
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Abstract: | The purpose of this paper is to present the results of a simple empirical test of the hypothesis that volatile money supplies have led to volatile exchange rates. The results suggest that while there may exist a broad positive relation between money supply and exchange-rate volatility, it may not be discernible for small variations in turbulence. |
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