Long-Run Exchange Rate Modeling. A Survey Of The Recent Evidence
Abstract:
In This Paper The A. Reviews The Voluminous Litterature That Tests For A Unit Root In Real Exchange Rates And The Closely Related Work On Testing For A Unit Root In The Residual From A Regression Of The Nominal Exchange Rate On Reative Prices. We Argue That The Balance Of Evidence Is Supportive Of The Existance Of Some Form Of Long-Run Exchange Rate Relationship. The Form Of This Relationship, However, Does Not Accord Exactly With A Traditional Representation Of The Long- Run Exchange ...; [read all]
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| Description | Long-Run Exchange Rate Modeling. A Survey Of The Recent Evidence/ Macdonald, Ronald |
| Notes |
Sta in: Staff Papers 1995, September, N. 3. 437-489 P.
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| ID file | 62349 |