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PPP Strikes Back

PPP Strikes Back »

Source: PPP Strikes Back : Aggregation and the Real Exchange Rate

Volume/Issue: 2003/68

Series: IMF Working Papers

Author(s): Haroon Mumtaz , Jean Imbs , Morten Ravn , and Helene Rey

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

ISBN: 9781451849011

Keywords: Real exchange rate persistence, aggregation, parameter heterogeneity, exchange rate, real exchange rate, exchange rates, real exchange rates, equation, Financial Aspects of Economic Integration, Open Economy Macroeconomics,

We show the importance of a dynamic aggregation bias in accounting for the PPP puzzle. We prove that established time-series and panel methods substantially exaggerate the persistence of real exchange rates because...

Income and Democracy

Income and Democracy »

Source: Income and Democracy : Lipset's Law Revisited

Volume/Issue: 2012/295

Series: IMF Working Papers

Author(s): Anke Hoeffler , Robert H. Bates , and Ghada Fayad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2012

ISBN: 9781475596649

Keywords: democracy, dynamic panel data, parameter heterogeneity, cross-section dependence, time series, democratization, error correction coefficient, econometrics, political institutions, Models with Panel Data

We revisit Lipset‘s law, which posits a positive and significant relationship between income and democracy. Using dynamic and heterogeneous panel data estimation techniques, we find a significant and negative relat...

PPP Strikes Back
			: Aggregation and the Real Exchange Rate

PPP Strikes Back : Aggregation and the Real Exchange Rate »

Volume/Issue: 2003/68

Series: IMF Working Papers

Author(s): Haroon Mumtaz , Jean Imbs , Morten Ravn , and Helene Rey

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2003

DOI: http://dx.doi.org/10.5089/9781451849011.001

ISBN: 9781451849011

Keywords: Real exchange rate persistence, aggregation, parameter heterogeneity, exchange rate, real exchange rate, exchange rates, real exchange rates, equation, Financial Aspects of Economic Integration, Open Economy Macroeconomics,

We show the importance of a dynamic aggregation bias in accounting for the PPP puzzle. We prove that established time-series and panel methods substantially exaggerate the persistence of real exchange rates because...

Income and Democracy
			: Lipset's Law Revisited

Income and Democracy : Lipset's Law Revisited »

Volume/Issue: 2012/295

Series: IMF Working Papers

Author(s): Anke Hoeffler , Robert H. Bates , and Ghada Fayad

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2012

DOI: http://dx.doi.org/10.5089/9781475596649.001

ISBN: 9781475596649

Keywords: democracy, dynamic panel data, parameter heterogeneity, cross-section dependence, time series, democratization, error correction coefficient, econometrics, political institutions, Models with Panel Data

We revisit Lipset‘s law, which posits a positive and significant relationship between income and democracy. Using dynamic and heterogeneous panel data estimation techniques, we find a significant and negative relat...