Asymmetry dynamics in real exchange rates: new results on East Asian currencies
This paper provides new evidence on the purchasing power parity (PPP) hypothesis in six East Asian countries. Based on nonlinear unit root tests, we discovered that the results are broadly consistent with the fact that real exchange rates (RERs) follow a nonlinear mean reversion process. We presente...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2010
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| Online Access: | http://psasir.upm.edu.my/id/eprint/13320/ http://psasir.upm.edu.my/id/eprint/13320/ http://psasir.upm.edu.my/id/eprint/13320/1/Asymmetry%20dynamics%20in%20real%20exchange%20rates.pdf |