Research Article
Exchange Rates and Monetary Fundamentals: What Do We Learn from Linear and Nonlinear Regressions?
Table 1
Descriptive statistics of exchange rates and macroeconomic fundamentals.
| | | Mean | Medium | Maximum | Minimum | Std. dev |
| | Case of JPY/USD | | | | | | | (JPY/USD) | 5.069925 | 4.902263 | 5.722604 | 4.426851 | 0.374557 | | | 4.399726 | 4.517532 | 4.700580 | 3.833945 | 0.231705 | | | 4.905912 | 4.832266 | 6.087354 | 3.588169 | 0.688862 | | | 4.845315 | 4.730000 | 10.30000 | 0.530000 | 2.864049 | | Case of RUR/USD | | | | | | | (EUR/USD) | −0.093723 | −0.114816 | 0.158848 | −0.328865 | 0.148013 | | | 4.624312 | 4.615279 | 4.737452 | 4.531767 | 0.044273 | | | 8.630551 | 8.649616 | 9.184298 | 8.182951 | 0.306038 | | | 4.444783 | 4.339600 | 5.698500 | 3.155500 | 0.661929 | | United States | | | | | | | | 4.228155 | 4.187961 | 4.692934 | 3.758084 | 0.270884 | | | 7.921690 | 8.069718 | 8.885856 | 6.697405 | 0.607044 | | | 7.637215 | 7.390000 | 15.32000 | 3.330000 | 2.581466 |
|
|
Note: all the variables, exchange rate , GDP , and money supply take logarithm formats except the inflation ().
|
