haku: @author Wang, P. / yhteensä: 18
viite: 9 / 18
| Tekijä: | Wang, P. Dunne, P. |
| Otsikko: | Sources of movements in real exchange rates -- evidence from East Asian economies |
| Lehti: | Weltwirtschaftliches Archiv
2000 : VOL. 136:1, p. 158-170 |
| Asiasana: | ECONOMICS EXCHANGE RATES ASIA |
| Kieli: | eng |
| Tiivistelmä: | It has been well observed that models assuming purchasing power parity (PPP) as a long-run relationship have not been successful in interpreting the movements of real exchange rates. Although the comovement between the exchange rate and price level is confirmed by cointegration tests, the coefficient restrictions implied by PPP are generally rejected. Changes in the real values of many currencies tend to persist for a rather long period of time, which implies that fluctuations in real exchange rates are largely due to the long-lasting effect of real disturbances. |
SCIMA