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Exchange Rate Determination: The Case of Singapore

Author

Listed:
  • Duc-Tho Nguyen

    (Department of Economics, University of Adelaide)

  • Yao Chye Chiang

    (Department of Economics, University of Adelaide)

Abstract

In this paper; several models of exchange rate determination are applied to the Singapore-US exchange rate. A composite model, synthesising elements of the portfolio-balance and monetary models, is found to yield more satisfactory estimates and better out-of-sample forecasts than the conventional models. The results suggest that it is a fairly good approximation to model the exchange rate determination process in Singapore as though official intervention played a relatively minor role (compared to prevailing market forces).

Suggested Citation

  • Duc-Tho Nguyen & Yao Chye Chiang, 1989. "Exchange Rate Determination: The Case of Singapore," School of Economics and Public Policy Working Papers 1989-01, University of Adelaide, School of Economics and Public Policy.
    • Handle: RePEc:adl:wpaper:1989-01
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    Cited by:

    1. Venus Khim-Sen Liew & Ahmad Zubaidi Baharumshah & Kian-Ping Lim, 2004. "On Singapore Dollar–U.S. Dollar And Purchasing Power Parity," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 49(01), pages 71-84.

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