Long-Run Exchange Rate Modeling : A Survey of the Recent Evidence /

In this paper we survey the recent literature on long run, or equilibrium, exchange rate modeling. In particular, we review the voluminous literature which tests for a unit root in real exchange rates and the closely related work on testing for a unit root in the residual from a regression of the no...

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מחבר ראשי: MacDonald, Ronald
פורמט: כתב-עת
שפה:English
יצא לאור: Washington, D.C. : International Monetary Fund, 1995.
סדרה:IMF Working Papers; Working Paper ; No. 1995/014
גישה מקוונת:Full text available on IMF
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100 1 |a MacDonald, Ronald. 
245 1 0 |a Long-Run Exchange Rate Modeling :   |b A Survey of the Recent Evidence /  |c Ronald MacDonald. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1995. 
300 |a 1 online resource (52 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a In this paper we survey the recent literature on long run, or equilibrium, exchange rate modeling. In particular, we review the voluminous literature which tests for a unit root in real exchange rates and the closely related work on testing for a unit root in the residual from a regression of the nominal exchange rate on relative prices. We argue that the balance of evidence is supportive of the existence of some form of long-run exchange rate relationship. The form of this relationship, however, does not accord exactly with a traditional representation of the long-run exchange rate. We offer some potential explanations for this lack of conformity. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1995/014 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1995/014/001.1995.issue-014-en.xml  |z IMF e-Library