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The Long-run and Short-run Impact of Exchange Rate Devaluation on Pakistan's Trade Performance

✍ Scribed by Zehra Aftab and Aurangzeb

Book ID
124682918
Publisher
Pakistan Institute of Developemnt Economics (PIDE)
Year
2002
Tongue
English
Weight
805 KB
Volume
41
Category
Article
ISSN
0030-9729

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## ABSTRACT We examine consistency properties of the exchange rate expectation formation process of short‐run and long‐run forecasts in the dollar/euro and yen/dollar market. Applying nonlinear consistency restrictions we show that in a simple expectation formation structure short‐run forecasts are