EXCHANGE RATES IN INTERNATIONAL COMMODITY MODELS: THE COMMON CURRENCY QUESTION REVISITED

This paper clarifies the difference between estimating supply and demand equations for individual countries in national currencies or converting to common currency prior to estimation. The appropriate procedure for a pooled cross-country time-series estimation model depends upon the cross-sectional constraints and whether nominal or real values are used.


Issue Date:
1977-07
Publication Type:
Conference Paper/ Presentation
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/283786
Language:
English
Total Pages:
15




 Record created 2019-02-18, last modified 2020-10-28

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