This note estimates the neutral rate for New Zealand using a Vector Error Correction Model (VECM). The neutral interest rate is the rate of interest at which monetary ...
This paper presents an exchange rate model for the Euro exchange rates of four major currencies, namely the US dollar, the British pound, the Japanese yen and the Swiss franc. The model is based on ...
By analyzing different transmission channels through the VECM, we were able to evaluate their relative dominance, magnitude, and speed of transition to the equilibrium price level, with the view of ...
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