Assignment First

加拿大维多利亚论文代写:汇率模型

这就是说,给出的购买力平价方程将保持良好的一些常数可以纳入弥补可能发生的偏差。总的来说,每次都需要这样的改变。
货币方法
浮动汇率模型是在20世纪70年代给出的。已经进行了各种测试来研究和证明该模型如何被接受为汇率估计提供证据。上面已经讨论了模型的有效性,并且显示出与模型的结果有关的混合反应。其中一项重要的研究显示,该模型实际上导致扎伊尔的通货膨胀率上升,然而,恶性通货膨胀似乎为货币方式模式提供了自然的测试依据。

加拿大维多利亚论文代写:汇率模型
研究中包含的其他研究如下
普特南(Putnam)和伍德伯里(Woodbury)在1972年至1977年的汇率
霍德里克1973年至1975年的汇率美元汇率
这两项研究已经显示了货币方法的积极成果。因此总的来说,模型的实证检验是相当令人鼓舞的。虽然有某些因素和结果显示模型没有显示相关的结果,但肯定是进一步研究更好的估计汇率的坚实基础。虽然模型的简单性可能会导致模糊的结果,但是控制假设中陈述的因素肯定会增加模型的有效性。例如,米斯(Meese)和罗格夫(Rogoff)(1983)就利用货币模型来开展汇率预测方面的开创性工作。在这里,汇率的对数是根据汇率模型中包含的相对宏观经济变量的不同组合来回归的。

加拿大维多利亚论文代写:汇率模型

This is to say that the equation that is given for the PPP will hold well with some constant may be incorporated to make-up for the deviations that might occur. Overall such changes will be required every time.
The Monetary Approach
The floating exchange rate models were given in 1970s. Various tests have been performed to study and demonstrate how the model has been accepted in providing evidence for the exchange rate estimation. The validity of the model has been discussed above and shows that there are mixed reactions in relation to the results of the model. In one of the important studies it was shown that the model actually resulted in increase in inflation in Zaire, however, it seems that hyperinflations offer natural testing grounds for the monetary approach model.

加拿大维多利亚论文代写:汇率模型
The other studies that have been included in the study are as follows
GBP USD exchange rate from 1972 to 1977 by Putnam and Woodbury
DEM USD exchange rate from 1973 to 1975 by Hodrick
These two studies have shown positive results for the monetary approach. Thus overall the empirical testing of the model is quite encouraging. Although there are certain factors and results that show that model isn’t showing relevant results but certainly is a strong base to conduct further studies for better estimation of the exchange rate. Although the simplicity of the model may result in ambiguous results but controlling the factors that have been stated in the assumptions would certainly increase the effectiveness of the model. For example Meese and Rogoff (1983) —conducted the seminal work in the use of monetary models to forecast the exchange rate. In this the log of the exchange rates was regressed on different combinations of the relative macroeconomic variables that were included in the exchange rate model.