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Parity Reversion in Real Exchange Rates

Parity Reversion in Real Exchange Rates »

Source: Parity Reversion in Real Exchange Rates : Fast, Slow or Not At All?

Volume/Issue: 2004/128

Series: IMF Working Papers

Author(s): C. McDermott , and Paul Cashin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2004

ISBN: 9781451855074

Keywords: Parity reversion, real exchange rate, post-Bretton Woods, exchange rate, exchange rates, real exchange rates, nominal exchange rate, Open Economy Macroeconomics,

Consensus estimates put the half-life of deviations from purchasing power parity (PPP) at about four years (Rogoff, 1996). However, conventional least squares estimates of half-lives are biased downward. Accordingl...

Parity Reversion in Real Exchange Rates
			: Fast, Slow or Not At All?

Parity Reversion in Real Exchange Rates : Fast, Slow or Not At All? »

Volume/Issue: 2004/128

Series: IMF Working Papers

Author(s): C. McDermott , and Paul Cashin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2004

DOI: http://dx.doi.org/10.5089/9781451855074.001

ISBN: 9781451855074

Keywords: Parity reversion, real exchange rate, post-Bretton Woods, exchange rate, exchange rates, real exchange rates, nominal exchange rate, Open Economy Macroeconomics,

Consensus estimates put the half-life of deviations from purchasing power parity (PPP) at about four years (Rogoff, 1996). However, conventional least squares estimates of half-lives are biased downward. Accordingl...