haku: @indexterm cointegration / yhteensä: 76
viite: 12 / 76
| Tekijä: | Larsson, A.S. |
| Otsikko: | The Swedish real exchange rate under different currency regimes |
| Lehti: | Review of World Economics
2004 : VOL. 140:4, p. 706-727 |
| Asiasana: | Cointegration Exchange rates Sweden |
| Vapaa asiasana: | Exchange rate regimes |
| Kieli: | eng |
| Tiivistelmä: | Evidence on the behaviour of the Swedish real exchange rate relative to Germany under different currency regimes is presented in this paper during the period 1973:1-2001:4. The findings suggest that the real exchange rate is cointegrated with Swedish and German productivity, which is consistent with Balassa (1964) and Samuelson (1964). In the short run, the exchange rate regime has mattered for the dynamics of the real exchange rate. Deviations from the long-run equilibrium have been adjusted more quickly when the nominal exchange rate has been allowed to float freely. |
SCIMA