Skip to main content

Equilibrium and efficiency of exchange rates in a silver-based monetary system - the cases of India and Iran

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
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)
Hasan, Mohammad S: https://orcid.org/0000-0002-2453-6868
  • Depositors only (login required):