@article {Chin:2009:0003-6846:1771, title = "Tests of different monetary aggregates for the monetary models of the exchange rate in five ASEAN countries", journal = "Applied Economics", parent_itemid = "infobike://routledg/raef", publishercode ="routledg", year = "2009", volume = "41", number = "14", publication date ="2009-06-01T00:00:00", pages = "1771-1783", itemtype = "ARTICLE", issn = "0003-6846", eissn = "1466-4283", url = "https://www.ingentaconnect.com/content/routledg/raef/2009/00000041/00000014/art00005", doi = "doi:10.1080/00036840902845517", author = "Chin, Lee and Habibullah, Muzafar Shah and Azali, M.", abstract = "This study examines the usefulness of divisia money, relative to simple sum money, for exchange rate modelling in a period of rapid financial deregulation. This comparison is conducted using the monetary model of the exchange rate. In the long-run modelling, the divisia money is significantly superior to simple sum money in the case of Malaysia and the Philippines while indifferent for Indonesia, Singapore and Thailand.", }