Umfang:
Online-Ressource (17 p)
Ausgabe:
Online-Ausg.
ISBN:
1451960840
,
9781451960846
Serie:
IMF Working Papers Working Paper No. 98/69
Inhalt:
We examine the mean-reverting properties of real exchange rates, by comparing the unit root properties of a group of international real exchange rates with two groups of intra-national real exchange rates. Strikingly, we find that while the international real rates taken as a group appear mean-reverting, the intra-national rates are not. This is consistent with the view that while monetary shocks may be mean-reverting over the medium term, underlying real factors do generate long-term trends in real exchange rates
Weitere Ausg.:
Erscheint auch als Druck-Ausgabe MacDonald, Ronald Deviations of Exchange Rates from Purchasing Power Parity: A Story Featuring Two Monetary Unions Washington, D.C. : International Monetary Fund, 1998 ISBN 9781451960846
Sprache:
Englisch
DOI:
10.5089/9781451960846.001
