Please use this identifier to cite or link to this item:
DC FieldValueLanguage
dc.contributor.authorSebastião, Helder-
dc.contributor.authorGodinho, Pedro-
dc.description.abstractWe examine the long- and short-run relationships between USD/EUR official rates and implicit exchange rates, through Bitcoin as a currency vehicle, over the period from March 07, 2016 to November 22, 2019. The results show that the two exchange rates are cointegrated and that the cointegrating vector is not statistically different from the theoretical one that results from the law of one price. In the short-run, the implied rate Granger-causes the official reference rate. Our main conclusion is that Bitcoin USD and EUR prices incorporate fundamental information from the USD/EUR official exchange ratept
dc.relation.ispartofseriesCeBER Working Paper 2020-02;-
dc.subjectBitcoin, USD/EUR, Exchange rates, Cointegration, Forecastingpt
dc.titleThe Relationship Between USD/EUR Official Exchange Rates And Implied Exchange Rates From The Bitcoin Marketpt
degois.publication.titleCeBER Working Paperpt
item.fulltextCom Texto completo- de Economia, Universidade de Coimbra- de Economia, Universidade de Coimbra- for Monetary and Financial Studies- for Business and Economics Research- for Business and Economics Research-
Appears in Collections:I&D CeBER - Working Papers
Files in This Item:
File Description SizeFormat
WP-CeBER_2020_02.pdf308.48 kBAdobe PDFView/Open
Show simple item record

Page view(s)

checked on Sep 23, 2020


checked on Sep 23, 2020

Google ScholarTM


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.