Real Exchange Rate Volatility : Does the Nominal Exchange Rate Regime Matter? /

A recent study by Grilli and Kaminsky (1991) argues that real exchange rate (RER) behavior is likely to be dependent on the particular historical period rather than on the nominal exchange rate arrangement itself. This paper reexamines RER behavior using alternative data sets, as well as different e...

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Manylion Llyfryddiaeth
Prif Awdur: Liang, Hong
Fformat: Cylchgrawn
Iaith:English
Cyhoeddwyd: Washington, D.C. : International Monetary Fund, 1998.
Cyfres:IMF Working Papers; Working Paper ; No. 1998/147
Mynediad Ar-lein:Full text available on IMF
Disgrifiad
Crynodeb:A recent study by Grilli and Kaminsky (1991) argues that real exchange rate (RER) behavior is likely to be dependent on the particular historical period rather than on the nominal exchange rate arrangement itself. This paper reexamines RER behavior using alternative data sets, as well as different econometric methods, over the period 1880-1997. It finds strong evidence supporting the nonneutrality hypothesis of nominal exchange regime on RER volatility. Also, regime shifts play an important role in determining the persistence of shocks to the RER.
Disgrifiad o'r Eitem:<strong>Off-Campus Access:</strong> No User ID or Password Required
<strong>On-Campus Access:</strong> No User ID or Password Required
Disgrifiad Corfforoll:1 online resource (38 pages)
Fformat:Mode of access: Internet
ISSN:1018-5941
Mynediad:Electronic access restricted to authorized BRAC University faculty, staff and students