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Exchange Rate Economics: Theories and Evidence

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430 References<br />

MacDonald,R. (2002),‘Modelling the Long-run Real Effective <strong>Exchange</strong> <strong>Rate</strong> of the<br />

New Zeal<strong>and</strong> Dollar’, Australian Economic Papers,41(4),519–37.<br />

MacDonald,R. <strong>and</strong> P. Macmillan (1994),‘On the Expectations View of the Term Structure,<br />

Term Premia <strong>and</strong> Survey-based Expectations’, The Economic Journal,104,1070–86.<br />

MacDonald,R. <strong>and</strong> I.W. Marsh (1993),‘The Efficiency of Spot <strong>and</strong> Futures Stock Indices:<br />

A Survey Based Perspective’, The Review of Futures Markets,12(2),431–54.<br />

MacDonald,R. <strong>and</strong> I.W. Marsh (1994a),‘On Long- <strong>and</strong> Short-run Purchasing Power<br />

Parity’,in J. Kaehler <strong>and</strong> P. Kugler (eds),Econometric Analysis of Financial Markets<br />

(Heidelberg,Germany: Physica-Verlag),23–46.<br />

MacDonald,R. <strong>and</strong> I.W. Marsh (1994b),‘Combining <strong>Exchange</strong> <strong>Rate</strong> forecasts: What is<br />

the Optimal Consensus Measure?’, Journal of Forecasting,13 (May),313–32.<br />

MacDonald,R. <strong>and</strong> I.W. Marsh (1996a),‘Heterogeneite Des revisionnistes: Une Exploration<br />

Des Anticipations Sur Le March Des Changes’, Economie et Prevision,125,<br />

109–16.<br />

MacDonald,R. <strong>and</strong> I.W. Marsh (1996b),‘Foreign <strong>Exchange</strong> Market Forecasters are<br />

Heterogeneous: Confirmation <strong>and</strong> Consequences’, Journal of International Money <strong>and</strong> Finance<br />

(September),15,665–85.<br />

MacDonald,R. <strong>and</strong> I.W. Marsh (1997),‘On Casselian PPP,Cointegration <strong>and</strong> <strong>Exchange</strong><br />

<strong>Rate</strong> Forecasting’, Review of <strong>Economics</strong> <strong>and</strong> Statistics (November),70,655–64.<br />

MacDonald,R. <strong>and</strong> I.W. Marsh (1999),<strong>Exchange</strong> <strong>Rate</strong> Modelling (Boston,MA: Kluwer).<br />

MacDonald,R. <strong>and</strong> I.W. Marsh (2004),‘A Tripolar Forecasting Model of Bilateral<br />

<strong>Exchange</strong> <strong>Rate</strong>s’, Journal of International Money <strong>and</strong> Finance,23,99–111.<br />

MacDonald,R. <strong>and</strong> M. Moore (1996),‘Long-run Purchasing Power Parity <strong>and</strong> Structural<br />

Change’, Economie Appliquee,XLIX,11–48.<br />

MacDonald,R. <strong>and</strong> M. Moore (2000),‘The Spot-forward Relationship Revisited: An ERM<br />

Perspective’, Journal of International Financial Markets, Institutions <strong>and</strong> Money,11,29–52.<br />

MacDonald,R. <strong>and</strong> J. Nagayasu (1999),‘The Long-run Relationship between Real<br />

<strong>Exchange</strong> <strong>Rate</strong>s <strong>and</strong> Real Interest Differentials: A Panel Study’,IMF Staff Papers.<br />

MacDonald,R. <strong>and</strong> L. Ricci (2001),‘PPP <strong>and</strong> the Balassa–Samuelson Effect: The Role of<br />

the Distribution Sector’,IMF Working Paper No. 01/38.<br />

MacDonald,R. <strong>and</strong> L. Ricci (2003),‘Purchasing Power Parity <strong>and</strong> New Trade Theory’,<br />

IMF Working Paper No. 02/32.<br />

MacDonald,R. <strong>and</strong> L. Ricci (2004),‘Estimation of the Equilibrium Real <strong>Exchange</strong> <strong>Rate</strong> for<br />

South Africa’,IMF Working Paper No. WP/03/44 <strong>and</strong> South African Journal of <strong>Economics</strong>,<br />

72(2),282–304.<br />

MacDonald,R. <strong>and</strong> P. Swagel (2000),‘Business Cycle Influences on <strong>Exchange</strong> <strong>Rate</strong>s:<br />

Survey <strong>and</strong> <strong>Evidence</strong>’,World Economic Outlook,Supporting Studies,129–59.<br />

MacDonald,R. <strong>and</strong> M.P. Taylor (1989),‘The Term Structure of Forward Foreign<br />

<strong>Exchange</strong> <strong>Rate</strong> Premiums’, The Manchester School of Economic <strong>and</strong> Social Studies,58,54–65.<br />

MacDonald,R. <strong>and</strong> M.P. Taylor (1991),‘The Monetary Model of the <strong>Exchange</strong> <strong>Rate</strong>:<br />

Long-run Relationships <strong>and</strong> Coefficient Restrictions’, <strong>Economics</strong> Letters,37,179–85.<br />

MacDonald,R. <strong>and</strong> M.P. Taylor (1992),‘<strong>Exchange</strong> <strong>Rate</strong> <strong>Economics</strong>: A Survey’,IMF Staff<br />

Papers,1–57.<br />

MacDonald,R. <strong>and</strong> M.P. Taylor (1993),‘The Monetary Approach to the <strong>Exchange</strong><br />

<strong>Rate</strong>: Rational Expectations,Long-run Equilibrium <strong>and</strong> Forecasting’,IMF Staff Papers,<br />

40,89–107.<br />

MacDonald,R. <strong>and</strong> M.P. Taylor (1994),‘The Monetary Model of the <strong>Exchange</strong> <strong>Rate</strong>:<br />

Long-run Relationships,Short-run Dynamics <strong>and</strong> How to Beat a R<strong>and</strong>om Walk’,Journal<br />

of International Money <strong>and</strong> Finance,13,276–90.

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