Hasan, Mohammad S (2006) Equilibrium and efficiency of exchange rates in a silver-based monetary system - the cases of India and Iran. Economics Letters, 93 (3). pp. 318-322. ISSN 0165-1765. (doi:10.1016/j.econlet.2006.05.022) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided) (KAR id:23568)
| The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. | |
| Official URL: http://dx.doi.org/10.1016/j.econlet.2006.05.022 |
Abstract
This paper examines the issue of equilibrium and efficiency of exchange rates in a silver-based monetary system during nineteenth century India and Iran. The results based on co-integration tests indicate a reliable long-run relationship between the metallic value and the exchange value of currencies in a silver-based monetary standard. Our results also validate the necessary and sufficient conditions of the efficient market hypothesis.
| Item Type: | Article |
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| DOI/Identification number: | 10.1016/j.econlet.2006.05.022 |
| Uncontrolled keywords: | arbitrage; efficient market hypothesis; silver standard; exchange rate |
| Subjects: | H Social Sciences |
| Divisions: | Divisions > Kent Business School - Division > Department of Accounting and Finance |
| Depositing User: | Mohammad Hasan |
| Date Deposited: | 06 Jan 2010 11:59 UTC |
| Last Modified: | 16 Nov 2021 10:01 UTC |
| Resource URI: | https://kar.kent.ac.uk/id/eprint/23568 (The current URI for this page, for reference purposes) |
University of Kent Author Information
Hasan, Mohammad S.
| Creator's ORCID: |
 https://orcid.org/0000-0002-2453-6868
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