Empirical tests of mean reversion in real exchange rates: a survey
Article Abstract:
A study was conducted on empirical tests of mean reversion in real exchange rates using time-series analysis enhanced by cointegration. Results varied for different kinds of data set. The support for purchasing power parity was found to be strong for the short floating-rate period in the 1920s. However, the rejection of a unit root in the real exchange rate was found to be impossible for the longer floating-rate period since 1973.
Publication Name: Bulletin of Economic Research
Subject: Economics
ISSN: 0307-3378
Year: 1995
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Public Sector Prices and the Real Exchange-Rate in the UK Recession
Article Abstract:
The rise in wages and prices in the public sector of the United Kingdom is identified as a significant contributor to a decline in competitiveness. Public sector earnings' rise exceed private sector increases in spite of stable employment. A fall in employment and output is noted for the long run. Unemployment benefits may distort the results.
Publication Name: Bulletin of Economic Research
Subject: Economics
ISSN: 0307-3378
Year: 1983
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Tests of Efficiency and the Impact of "News" in Three Foreign Exchange Markets: The Experience of the 1920s
Article Abstract:
The rational expectations theory is tested in three foreign exchange markets for error orthogonality. Significant lagged forecasting errors are found. Income growth is found to be important in the equations for the period analyzed.
Publication Name: Bulletin of Economic Research
Subject: Economics
ISSN: 0307-3378
Year: 1983
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