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[17]MacDonald R，Taylor M P. The monetary model of the exchange rate：long-run relationships, short-run dynamics and how to beat a random walk[J]. Journal of international Money and finance，1994，13(3)：276-290.
[18]Rapach DE，Wohar ME. Testing the monetary model of exchange rate determination：new evidence from a century of data[J]. Journal of International Economics，2002，58(2)：359-385.