Abstract This paper uses the panel data of 15 countries from 2009 to 2020 to construct the time-varying parameter panel vector error correction model for testing the hypothesis of dynamic hedging characteristics of gold on exchange rate. As the existing literature has never considered that the foreign exchange risk hedged by gold is dynamic. this study can fill the research gap in thi... https://www.markbroyard.com/hot-deal-jolly-rancher-filled-gummies-7oz-online-hot-sale-big-sale/