Exchange rate fluctuations in Croatia: test of uncovered interest rate parity and the open economy model

References

• Bahmani-Oskooee , M . 2001 . Nominal and real effective exchange rates of middle eastern countries and their trade performance . Applied Economics , 33 : 103 – 11 .
   Web of Science ®Google Scholar
• Bahmani-Oskooee , M and Mirzai , A . 2000 . Real and nominal effective exchange rates for developing countries . Applied Economics , 32 : 411 – 28 .
   Web of Science ®Google Scholar
• Bahmani-Oskooee , M and Ng , RCW . 2002 . Long-run demand for money in Hong Kong: an application of the ARDL model . International Journal of Business and Economics , 1 : 147 – 55 .
   Google Scholar
• Billmeier , A and Bonato , L . 2004 . Exchange rate pass-through and monetary policy in Croatia . Journal of Comparative Economics , 32 : 426 – 44 .
   Web of Science ®Google Scholar
• Chaboud , AP and Wright , JH . 2005 . Uncovered interest parity: it works, but not for long . Journal of International Economics , 66 : 349 – 62 .
   Web of Science ®Google Scholar
• Cheung , Y-W , Chinn , MD and Pascual , AG . 2002 . “ Empirical exchange rate models of the nineties: are any fit to survive? ” . In NBER Working Paper No. 9393
   Google Scholar
• Chinn , MD and Meredith , G . 2005 . “ Testing uncovered interest parity at short and long horizons during the post-Bretton Woods era ” . In NBER Working Paper No. 11077 , National Bureau of Economic Research, Inc .
   Google Scholar
• Couharde , C and Mazier , J . 2001 . The equilibrium exchange rates of European currencies and the transition to euro . Applied Economics , 33 : 1795 – 801 .
   Web of Science ®Google Scholar
• D’Amato , M and Pistoresi , B . 2001 . Interest rate spreads between Italy and Germany, 1995–1997 . Applied Financial Economics , 11 : 603 – 12 .
   Google Scholar
• Halpern , L and Wyplosz , C . 1995 . “ Equilibrium real exchange rates in transition ” . In Discussion Paper No. 1145 , Centre for Economic Policy Research .
   Google Scholar
• Holtemoller , O . 2005 . Uncovered interest rate parity and analysis of monetary convergence of potential EMU accession countries . International Economics and Economic , 2 : 33 – 63 .
   Google Scholar
• Lane , PR and Milesi-Ferretti , GM . 2002 . Long-run determinants of the Irish real exchange rate . Applied Economics , 34 : 549 – 53 .
   Web of Science ®Google Scholar
• Marquez , J . 1987 . Money demand in open economies: a currency substitution model for Venezuela . Journal of International Money and Finance , 6 : 167 – 78 .
   Web of Science ®Google Scholar
• Newey , WK and West , KD . 1987 . A simple positive semi-definite, heteroskedasticity and autocorrelation consistent covariance matrix . Econometrica , 55 : 703 – 8 .
   Web of Science ®Google Scholar
• Romer , D . 2001 . Advanced Macroeconomics , 2nd , New York : McGraw Hill .
   Google Scholar
• Sanchez-Fung , JR and Prazmowski , PA . 2004 . PPP, random walks, and UIP after interest rate liberalization in a small developing economy . Economics Bulletin , 6 : 1 – 7 .
   Google Scholar
• Sarno , L and Taylor , MP . 2002 . The Economics of Exchange Rates , Cambridge : Cambridge University Press .
   Google Scholar
• Schroder , M and Dornau , R . 2002 . Do forecasters use monetary models? An empirical analysis of exchange rate expectations . Applied Financial Economics , 12 : 535 – 43 .
   Google Scholar
• Stucka , T . 2004 . “ The effects of exchange rate change on the trade balance in Croatia ” . In IMF Working Paper No. 04/65 , International Monetary Fund .
   Google Scholar
• Suliman , O . 2005 . Interest rate volatility, exchange rates, and external contagion . Applied Financial Economics , 15 : 883 – 94 .
   Google Scholar
• Taylor , MP . 1995 . The economics of exchange rates . Journal of Economic Literature , 33 : 13 – 47 .
   Web of Science ®Google Scholar
• Taylor , MP and Sarno , L . 1998 . The behaviour of real exchange rates during the post-bretton woods period . Journal of International Economics , 46 : 281 – 312 .
   Web of Science ®Google Scholar
• Taylor , AM and Taylor , MP . 2004 . The purchasing power parity debate . Journal of Economic Perspectives , 18 : 135 – 58 .
   Web of Science ®Google Scholar