NOMINAL EFFECTIVE EXCHANGE RATE NEUTRALITY: THE CASE OF MACEDONIA
Abstract
This paper uses quarterly data on Macedonian nominal effective exchange rate for the time period 1992 to 2009 along with six other variables to investigate the nominal effective exchange rate neutrality. SVAR and Impulseresponse functions had been used to prove the hypothesis. Empirical evidence in this paper supports the nominal exchange rate neutrality in the case of Macedonia.References
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