IMF Staff Papers, Volume 50, No. 3 /
This paper analyzes the issue of purchasing power parity using real effective exchange rate (REER) data for 20 industrial countries in the post-Bretton Woods period. The serial correlation-robust median-unbiased estimator yields a cross-country average of half-lives of deviations from parity of abou...
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| Формат: | Журнал |
| Мова: | English |
| Опубліковано: |
Washington, D.C. :
International Monetary Fund,
2003.
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| Серія: | IMF Staff Papers; IMF Staff Papers ;
No. 2003/003 |
| Онлайн доступ: | Full text available on IMF |
| Резюме: | This paper analyzes the issue of purchasing power parity using real effective exchange rate (REER) data for 20 industrial countries in the post-Bretton Woods period. The serial correlation-robust median-unbiased estimator yields a cross-country average of half-lives of deviations from parity of about eight years, with the REER of several countries displaying permanent deviations from parity. The paper analyzes integration of Africa into world trade. The high-yield spread as a predictor of real economic activity is also examined. |
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| Опис примірника: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Фізичний опис: | 1 online resource (204 pages) |
| Формат: | Mode of access: Internet |
| ISSN: | 1020-7635 |
| Доступ: | Electronic access restricted to authorized BRAC University faculty, staff and students |