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Long-Run Exchange Rate Modeling : A Survey of the Recent Evidence / Ronald MacDonald.
- Format:
- Book
- Government document
- Author/Creator:
- MacDonald, Ronald.
- Series:
- IMF Working Papers; Working Paper ; No. 1995/014
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (52 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 1995.
- Language Note:
- English
- Summary:
- 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.
- Notes:
- Bibliographic Level Mode of Issuance: Monograph
- Description based on print version record.
- ISBN:
- 9786613776389
- 9781462352111
- 1462352111
- 9781455255498
- 1455255491
- 9781281110251
- 1281110256
- 9781455244287
- 1455244287
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