Long-Run Exchange Rate Dynamics : A Panel Data Study /

Long-run movements of real exchange rates are studied using a panel data set comprising 51 economies. The purchasing power parity hypothesis (PPP) is examined first using unit root tests. It is found that PPP does not hold for the full sample of countries, but it may hold for the advanced economies,...

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Autor principal: Habermeier, Karl
Altres autors: Mesquita, Mario
Format: Revista
Idioma:English
Publicat: Washington, D.C. : International Monetary Fund, 1999.
Col·lecció:IMF Working Papers; Working Paper ; No. 1999/050
Accés en línia:Full text available on IMF
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100 1 |a Habermeier, Karl. 
245 1 0 |a Long-Run Exchange Rate Dynamics :   |b A Panel Data Study /  |c Karl Habermeier, Mario Mesquita. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1999. 
300 |a 1 online resource (25 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Long-run movements of real exchange rates are studied using a panel data set comprising 51 economies. The purchasing power parity hypothesis (PPP) is examined first using unit root tests. It is found that PPP does not hold for the full sample of countries, but it may hold for the advanced economies, as well as open and high-inflation economies. Using the recently developed mean group and pooled mean group estimators, the paper finds support for the Balassa-Samuelson hypothesis in both advanced and developing economies; and for the influence of shifts in the terms of trade. 
538 |a Mode of access: Internet 
700 1 |a Mesquita, Mario. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1999/050 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1999/050/001.1999.issue-050-en.xml  |z IMF e-Library