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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Bibliografske podrobnosti
Glavni avtor: Flood, Robert
Format: Revija
Jezik:English
Izdano: Washington, D.C. : International Monetary Fund, 2003.
Serija:IMF Staff Papers; IMF Staff Papers ; No. 2003/003
Online dostop:Full text available on IMF
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a 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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830 0 |a IMF Staff Papers; IMF Staff Papers ;  |v No. 2003/003 
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