Format:
Online-Ressource (52 p)
Edition:
Online-Ausg.
ISBN:
1451843062
,
9781451843064
Series Statement:
IMF Working Papers Working Paper No. 95/14
Content:
In this paper we survey the recent literature on long run, or equilibrium, exchange rate modeling. In particular, we review the voluminous literature which tests for a unit root in real exchange rates and the closely related work on testing for a unit root in the residual from a regression of the nominal exchange rate on relative prices. We argue that the balance of evidence is supportive of the existence of some form of long-run exchange rate relationship. The form of this relationship, however, does not accord exactly with a traditional representation of the long-run exchange rate. We offer some potential explanations for this lack of conformity
Additional Edition:
Erscheint auch als Druck-Ausgabe MacDonald, Ronald Long-Run Exchange Rate Modeling: A Survey of the Recent Evidence Washington, D.C. : International Monetary Fund, 1995 ISBN 9781451843064
Language:
English
DOI:
10.5089/9781451843064.001
