Chin, Lee; Habibullah, Muzafar Shah; Azali, M. - In: Applied Economics 41 (2009) 14, pp. 1771-1783
This study examines the usefulness of divisia money, relative to simple sum money, for exchange rate modelling in a period of rapid financial deregulation. This comparison is conducted using the monetary model of the exchange rate. In the long-run modelling, the divisia money is significantly...