Real exchange rate behavior

Article Abstract:

The results of the Monte Carle experiments that were used to examine the real exchange rate behavior proved to be consistent with previous findings. Several researchers have surmised that gradual adjustment, together with the low power of traditional unit-root experiments in any but the lengthiest time series, may be credited with the extensive failure of such experiments to dismiss the unit root null theory in data for the float aline.

Administration of General Economic Programs, Foreign Exchange & Reserves Policy, Usage, Monte Carlo method, Monte Carlo methods

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Multi-country evidence on the behavior of purchasing power parity under the current float

Article Abstract:

The results of a new study show that, on the basis of long-term average, the concept of purchasing power parity retains much empirical usefulness. That finding, while it does not conflict with the findings of studies of long historical time-series data, contradicts prevailing beliefs concerning the behavior of exchange rates during the current float.

Exchange Rates, International Affairs, Organization for Econ Co-op & Dev, Purchasing power

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Some new stylized facts of floating exchange rates

Article Abstract:

A new group of stylized facts that emerged in the study of real exchange rate behavior of Organization for Economic Cooperation and Development conveys that the problems of the current float were not, as commonly deemed, exclusive to the system. In fact, the problems were mainly limited to the early and middle 1980s and to the US dollar.

Foreign Currency Management, Economic aspects, Organization for Economic Cooperation and Development

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