CAN THE TAYLOR RULES EXPLAIN EXCHANGE RATE MOVEMENTS? EVIDENCE FROM CENTRAL AND EASTERN EUROPEAN COUNTRIES

Chi-Wei Su, Deng-kui Si, Hsu-Ling Chang, Xiao-Lin Li This study investigates whether the Taylor rules can explain exchange rates for ten Central and Eastern European countries of the conditional distribution by employing a nonlinear quantile stationary test with the Fourier function, which combines the quantile unit root test with smooth unknown multiple breaks through the […]