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| Author: | Cheung, Y-W. Lai, K. S. |
| Title: | Parity reversion in real exchange rates during the post-Bretton Woods period. |
| Journal: | Journal of International Money and Finance
1998 : AUG, VOL. 17:4, p. 597-614 |
| Index terms: | EXCHANGE RATES PURCHASING POWER PARITY STATISTICAL METHODS |
| Language: | eng |
| Abstract: | The authors study, if a common view among recent studies on purchasing power parity is that the post-Breton Woods period is far too short to reveal any significant parity reversion in individual series of real exchange rates. The study shows, that the answer depends on the statistical testing being used. The efficient univatiate unit-root tests are applied to uncover parity reversion Empirical results show that parity reversion can be unveiled over the modern float if an efficient unit-root test is applied. |
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