Inoue, Takeshi; Hamori, Shigeyuki - Institute of Developing Economies, Japan External Trade … - 2009
This study empirically analyzes the sources of the exchange rate fluctuations in India by employing the structural VAR … model. The VAR system consists of three variables, i.e., the nominal exchange rate, the real exchange rate, and the relative … maintain the real exchange rate at its desired level over time. …