| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 965553 | Journal of Macroeconomics | 2012 | 16 Pages |
Abstract
⺠We revisit estimations of the PPP reversion rate in a vector error correction model. ⺠We use Taylor's (2002) century-long exchange rate data to study real exchange rate dynamics. ⺠We find an important role of relative price adjustments when relative price shocks occur. ⺠We observed protracted responses of the real exchange rate more often when relative price shocks occur.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Hyeongwoo Kim,