| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5062638 | Economics Letters | 2006 | 5 Pages |
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.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Mohammad S. Hasan,