A Monetary Model of Exchange Market Pressure Applied to the Post-War Canadian Experience

Lance Girton · Don E. Roper

565 citations0/0 files storedInternational Finance Discussion Paper

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Abstract

The monetary approach to the balance of payments has received considerable attention. However, most the empirical studies employ models of a small country with fixed exchange rates. Without relying on the small-country assumption, we derive a model to explain a measure of exchange market pressure that incorporates both exchange rate movements and official intervention. the models is used to analyze the post-war Canadian experience.

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1977A Monetary Approach To The Exchange Rate: Doctrinal Aspects And Empirical Evidence 1977The monetary approach to the balance of payments 1972The Monetary Approach to Balance-of-Payments Theory

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