The purpose of this paper is to document the relation, in post-war Lebanon from 1991 till 2013, between the central bank¡¯s foreign exchange reserves and the monetary base, and the relation between these two variables and the broad money supply in domestic currency (M2). The setting is typical...

The purpose of this paper is to study the relation between US stock prices, as exemplified by the S&P 500 stock index, and the change in eleven foreign exchange rates against the US dollar. The null hypothesis of no-cointegration fails to be rejected for all dual specifications....