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Are real exchange rates more likely to be stationary during the fixed nominal exchange rate regimes?

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  • Gawon Yoon
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    Abstract

    By testing for the presence of multiple changes in persistence at a priori unknown dates in the real exchange rates spanning more than 100 years over different nominal exchange rate regimes, this note shows that the real exchange rates are more likely to be stationary during the fixed nominal exchange rate regimes than during the floating ones.

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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

    Volume (Year): 16 (2009)
    Issue (Month): 1 ()
    Pages: 17-22

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    Handle: RePEc:taf:apeclt:v:16:y:2009:i:1:p:17-22

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    Cited by:
    1. Gadea, Maria Dolores & Gracia, Ana Belen, 2009. "European monetary integration and persistance of real exchange rates," Finance Research Letters, Elsevier, vol. 6(4), pages 242-249, December.

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