Fardmanesh, Mohsen; Douglas, Seymour - In: Review of Development Economics 12 (2008) 1, pp. 72-89
This paper studies the relationship between the official and parallel exchange rates, using cointegration, Granger causality, and reduced form methods on data from three Caribbean countries, Jamaica, Guyana, and Trinidad & Tobago, for the period 1985-93. Where the central bank follows a passive...