Fixed Exchange Rate and Foreign Exchange Intervention Case of North Macedonia Period from 1997 to 2017
DOI:
https://doi.org/10.51699/ajdes.v17i.512Keywords:
fix exchange rates, foreign exchange intervention, monetary policyAbstract
The aim of this paper is to analyze fixed exchange rates and foreign exchange intervention in case in North Macedonia, in this research paper used quartaly date from 1997 to 2017. Variables used in this research paper as exchange rate, norm of interest, money demand and inflation. Model that have used is Robust regression as a regression model, as a model for binary, used Exact Logistic Regresion. The results of research paper show us that all variables are linearity, relationship between the predictors and the outcome variable are linear, errors are normally distributed, homogeneity of variance ( homoscedasticity ) are constant and independence – errors of one observation is not correlated with the errors of any other observation. . While we compare these periods will give some possibilities for the North Macedonian currency movements in relation to macroeconomic policies.
References
Balázs Égert, L. H. (2006). Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues. Journal of Economic Surveys, 2006, vol. 20, issue 2, , 257-324.
Bišev, G. (. (1997). Reliability of the Exchange Rate as a Monetary. Skopje: National Bank of the Republic of North Macedonia, Skopje.
Bišev, G. (1997). Reliability of the Exchange Rate as a Monetary. Skopje: National Bank of the Republic of North Macedonia, Skopje.
Choi, M. S. (2017). THE RECENT EFFECTS OF EXCHANGE RATE. Prague Economic Papers , 1-29.
Gligoric, P. a. (2010).
Jane Bogoev, S. B. (2008). Real Exchange Rate Dynamics in Macedonia: Old Wisdoms and New Insights.
The Open-Access, Open-Assessment E-Journal, 2 (2008-18) , 1-19.
Jeffery Amato, A. F. (2005). Research on exchange rates. Basel,: Monetary and Economic Department .
Jeffery Amato, A. F. (2005). Research on exchange rates and monetary policy: an overview. Monetary and Economic Department - Bank for international settlements .
Kouretas, P. F. (1996). Exchange Rate Determination: Empirical Evidence for the Greek Drachma.
Managerial and Decision Economics , pp. 277-290 (14 pages).
Latter, B. (1996). Exchange rate - international transactions. New Work.
Magdalena Petrovska, B. É. (2008). Real Exchange Rate Dynamics in Macedonia:Old Wisdoms and New Insights. Recent Developments in International Money and Finance , 1-29.
Rogoff, M. O. (1995). The Mirage of Fixed Exchange Rates. JOURNAL OF ECONOMIC PERSPECTIVES , 73- 96.
S.Bernanke, R. H. (2004). Principles of economics . New York: McGraw Hill. S.Bernanke, R. H. (2004). Principles of economics. New York: McGraw-Hill, New York.
Tuladhar, B. L. (2005). Labor Productivity and Real Exchange The Balassa-Samuelson Disconnect in the North Macedonia. Skopje: IMF research paper.
