Monetary model of exchange rate det

Monetary model of exchange rate determination includes a great deal of literature in the experimental studies. Today, the impact of monetary variables on the exchange rate has been more emphasized. The main root of the monetary approach to the exchange rate dates back to the time of floating exchange regime's inception, i.e. 1970s and is related to studies of Frenkel (1976) and Bilson (1978). A review of recent studies, including the studies of (Barnett, 2005), (Honing, 2005), (Bauer &Herz, 2007), (Nandwa& Ramesh, 2007) and (Ketenci&Uz, 2008), which have investigated the monetary approach to the exchange rate, suggests that the monetary approach to the exchange rate, or in other words, the impact of monetary variables on the exchange rate has been seriously emphasized. Through a study, (Mark &Sul, 2001) showed that there is a long-term relationship between the monetary variables and exchange rates and monetary variables predict the exchange rate. (Papadopoulos &Papanikos, 2002) examined the relationship between output, money, price, trade balance and exchange rate under fixed and floating exchange rate regimes, and showed that the effect of money on the flexible exchange rate regime is greater. (Maitra, 2009) showed that money supply plays an important role in the exchange rates (rupee/dollar). (Maitra&Mukhopadhyay, 2009) showed that in the Basket peg regime, there is bidirectional causality between exchange rate and money supply. (Maitra&Mukhopadhyay, 2009) and (Maitr, 2010) showed that there is a causal relationship between money supply and exchange rate in the free unidirectional floating exchange rate regime in terms of money supply to exchange rate.

Hasil (Bahasa Indonesia) 2:

Model moneter penentuan nilai tukar termasuk banyak literatur dalam penelitian eksperimental. Saat ini, dampak dari variabel moneter terhadap nilai tukar telah lebih ditekankan. Akar utama dari pendekatan moneter terhadap nilai tukar tanggal kembali ke masa mengambang awal pertukaran rezim, yaitu tahun 1970 dan berhubungan dengan studi Frenkel (1976) dan Bilson (1978). Sebuah tinjauan studi terbaru, termasuk studi (Barnett, 2005), (Honing, 2005), (Bauer & Herz, 2007), (Nandwa & Ramesh, 2007) dan (Ketenci & Uz, 2008), yang telah menyelidiki pendekatan moneter terhadap nilai tukar, menunjukkan bahwa pendekatan moneter terhadap nilai tukar, atau dengan kata lain, dampak dari variabel moneter terhadap nilai tukar telah ditekankan serius. Melalui studi, (Mark & ​​Sul, 2001) menunjukkan bahwa ada hubungan jangka panjang antara variabel moneter dan nilai tukar dan variabel moneter memprediksi nilai tukar. (Papadopoulos & Papanikos 2002) menguji hubungan antara output, uang, harga, neraca perdagangan dan nilai tukar di bawah rezim nilai tukar tetap dan mengambang, dan menunjukkan bahwa efek dari uang pada rezim nilai tukar yang fleksibel lebih besar. (Maitra, 2009) menunjukkan bahwa jumlah uang beredar memainkan peran penting dalam nilai tukar (rupee / dolar). (Maitra & Mukhopadhyay, 2009) menunjukkan bahwa dalam rezim peg Basket, ada kausalitas dua arah antara nilai tukar dan jumlah uang beredar. (Maitra & Mukhopadhyay, 2009) dan (Maitr, 2010) menunjukkan bahwa ada hubungan kausal antara uang beredar dan nilai tukar dalam rezim searah bebas mengambang nilai tukar dalam hal pasokan uang dengan nilai tukar.