Currency Substitution via Expected Exchange Rate and Domestic Money
Demand: An Empirical Analysis for Japan

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Currency Substitution via Expected Exchange Rate and Domestic Money Demand: An Empirical Analysis for Japan

In this paper the currency substitution hypothesis is tested empirically on the Japanese money demand, using monthly data from January 1977 to December 1989. Under a flexible exchange rate a rational economic agent forms currency portfolios for both transaction and speculative reasons for demandin...

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Bibliographic Details
Main Authors:	Chotigeat, T., Sang, H. Lee
Format:	Article
Language:	English English
Published:	Universiti Putra Malaysia Press 1996
Online Access:	http://psasir.upm.edu.my/id/eprint/3112/ http://psasir.upm.edu.my/id/eprint/3112/1/Currency_Substitution_via_Expected_Exchange_Rate_and_Domestic_Money.pdf

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