Economics Research International

Research Article

Exchange Rates and Monetary Fundamentals: What Do We Learn from Linear and Nonlinear Regressions?

Table 11

Linear model estimations.


	Euro/USD	Japanese yen/USD

	1.297600 (0.4824)	−1.186818 (0.0000)
	−1.749120 (0.4194)	0.029403 (0.8006)
	6.161777 (0.1613)	2.995027 (0.5451)
	−0.082095 (0.3253)	0.000823 (0.8969)

Notes: the exchange rate change is calculated as and the corresponding contemporaneous monetary fundamentals are constructed as − (see texts for detailed explanations); numbers not in parenthesis are the coefficient estimates; numbers in the parenthesis are the values for the corresponding parameter coefficient significance tests.