An Unbiased Appraisal of Purchasing Power Parity /
Univariate studies of the hypothesis of unit roots in real exchange rates have yielded consensus point estimates of the half-life of deviations from purchasing power parity of between three to five years. However, least squares-based estimates of half-lives are biased downward. Accordingly, we follo...
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| 格式: | 雜誌 |
| 語言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2001.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 2001/196 |
| 在線閱讀: | Full text available on IMF |