Arbeitspapier

On Cross-Country Differences in the Persistence of Real Exchange Rates

Previous findings of long-run purchasing power parity come mainly from data for industrial countries, raising the issue of whether the results suffer sample-selection bias and exaggerate the general relevance of parity reversion. This study uncovers substantial cross-country heterogeneity in the persistence of deviations from parity. The results show that it is more likely, rather than less likely, to find parity reversion for developing countries than industrial countries. Although some persistence variations may partly reflect country differences in structural characteristics such as inflation experience and government spending, a considerable portion of those variations seems unaccounted for.

Sprache
Englisch

Erschienen in
Series: CESifo Working Paper ; No. 218

Klassifikation
Wirtschaft
Thema
Parity deviations
cross-country persistence differences
structural deterterminants

Ereignis
Geistige Schöpfung
(wer)
Cheung, Yin-Wong
Lai, Kon S.
Ereignis
Veröffentlichung
(wer)
Center for Economic Studies and ifo Institute (CESifo)
(wo)
Munich
(wann)
1999

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Cheung, Yin-Wong
  • Lai, Kon S.
  • Center for Economic Studies and ifo Institute (CESifo)

Entstanden

  • 1999

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