TY  - BOOK
AU  - Goux,Jean-François
TI  - A Deterministic Approach of the Euro/Dollar Exchange Rate
PY  - 2012///.
							
N1  - 8
N2  - The time series of the euro/dollar exchange rate can be analyzed correctly by incorporating a discontinuity in the form of a “thick transitory break”. If we examine the period from the Louvre agreements to March 2009 but eliminate the euro’s initial years, we can conclude that the rate is level-stationary or trend-stationary, and thus that a self-correcting mechanism returns the rate to an equilibrium level (or trend). We demonstrate this effect using a new test procedure based on the elimination of “thick transitory breaks”. More generally, we confirm the assumption that, thanks to the existence of deterministic trends with breaks, exchange-rate variations can be explained without necessarily referring to fundamentals
UR  - https://shs.cairn.info/journal-economie-et-prevision-1-2010-4-page-35?lang=en&redirect-ssocas=7080
ER  -