Munich Personal RePEc Archive

Are exchange rates really free from seasonality? An exploratory analysis on monthly time series

Cellini, Roberto and Cuccia, Tiziana (2011): Are exchange rates really free from seasonality? An exploratory analysis on monthly time series.

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Abstract

This article questions the assumption that exchange rates are non-seasonal and provides selected evidence of monthly time series of exchange rates in which significant seasonal components are present. However, the seasonal component appears to be absent in more recent data. Tentative explanations are suggested.

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