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List of Graphs Diagrams and Table
The Monetary Approach to the Exchange Rate
The Permanent Rate of Inflation
6 other sections not shown
analysis argument assets assumed autoregressive process Broschiert DM Brunner causal relationship causality nexus central bank change in demand changes in monetary Chapter compared context currency area demand for money demand-for-money function desired portfolio proportions Deutsche mark deviations economic agents economic subjects empirical estimated permanent example exchange market exchange rate changes exchange rate equation expected forecast foreign exchange foreign exchange market forward market Giersch Granger-causal identical important internationally diversified portfolio interpreted investment Kiel Leinen DM model world monetary aggregates monetary approach monetary policy money supply monies Niehans observation occur optimal percent period permanent component permanent rate PPP rate predicted price index price level rate of inflation rate of interest real exchange rate real income real world relative price relevant risk safe gains short-term interest rate spot exchange rate structure Swiss francs tion U.S. dollar variance Vaubel wealth holder yield zero