Abstract : Any test of the monetary approach centered on the period of fixed exchange rates would now be predominantly of historical interest. At the time of this study, however, experience with flexible exchange rates was still too short to permit concentrating econometric analysis exclusively on this more recent system (...).
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Jacques Mélitz, Henri Sterdyniak. The monetary approach to official reserves and foreign exchange rate in France, 1962-1974. American Economic Review, American Economic Association, 1979, 69 (5), pp.818-831. ⟨hal-01025312⟩
