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|z 9781451960846
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a MacDonald, Ronald.
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|a Deviations of Exchange Rates from Purchasing Power Parity :
|b A Story Featuring Two Monetary Unions /
|c Ronald MacDonald, Tamim Bayoumi.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1998.
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|a 1 online resource (17 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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.
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|a Mode of access: Internet
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|a Bayoumi, Tamim.
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|a IMF Working Papers; Working Paper ;
|v No. 1998/069
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1998/069/001.1998.issue-069-en.xml
|z IMF e-Library
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