@article {Chin:2009:0003-6846:1893,
	author = "Chin, Lee and Azali, M. and Masih, A. Mansur M.",
	title = "Tests of the different variants of the monetary model in a developing economy: Malaysian experience in the pre- and post-crisis periods",
	journal = "Applied Economics",
	volume = "41",
	number = "15",
	year = "2009",
	abstract = "This study examines the validity of four different variants of the monetary model of exchange rate determination for Malaysia covering both the pre- and post-crisis periods using the vector error-correction models. The findings demonstrate that for both periods, the variables used are cointegrated. Tests tend to suggest that of the four variants of monetary model, the sticky-price model holds in both periods and the flexible-price model holds only in the post-crisis period. The proportionality between the exchange rate and relative money does not hold in any period. The plotted actual and fitted exchange rates for both sub-samples show that the models are able to track the actual exchange rate trend quiet well.",
	pages = "1893-1902",
	url = "http://www.ingentaconnect.com/content/routledg/raef/2009/00000041/00000015/art00003",
	doi = "doi:10.1080/00036840601131797"
}