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Real exchange rates and structural breaks: evidence for the Spanish peseta

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  • Antonio Montanes
  • Jesus Clemente

Abstract

This paper analyses the fulfilment of the long-run PPP hypothesis between the Spanish Peseta and the currencies of the most important trade partners of the Spanish Economy. We show that the bilateral real exchange rate of the Spanish Peseta can be characterized as being stationary around a mean which exhibits some changes in its evolution.

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Bibliographic Info

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

Volume (Year): 6 (1999)
Issue (Month): 6 ()
Pages: 349-352

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Handle: RePEc:taf:apeclt:v:6:y:1999:i:6:p:349-352

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Cited by:
  1. Sabate, Marcela & Gadea, Maria Dolores & Serrano, Jose Maria, 2003. "PPP and structural breaks. The peseta-sterling rate, 50 years of a floating regime," Journal of International Money and Finance, Elsevier, Elsevier, vol. 22(5), pages 613-627, October.
  2. Mariam Camarero & Juan Carlos Cuestas & Javier Ordonez, 2008. "Nonlinear trend stationarity of real exchange rates: the case of the Mediterranean countries," International Journal of Banking, Accounting and Finance, Inderscience Enterprises Ltd, vol. 1(1), pages 30-46.
  3. Lean Hooi Hooi & Russell Smyth, 2007. "Are Asian real exchange rates mean reverting? Evidence from univariate and panel LM unit root tests with one and two structural breaks," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 39(16), pages 2109-2120.
  4. Tomas del Barrio & Josep Ll Carrion & Enrique Lopez-Bazo, 2003. "Evidence on the Purchasing Power Parity in Panel of Cities," ERSA conference papers ersa03p273, European Regional Science Association.
  5. Marcela Sabaté Sort & María Dolores Gadea & José María Serrano, 2005. "The Spanish peseta versus the pound sterling, the French franc and the US dollar (1870--1935). A long floating experience," Applied Financial Economics Letters, Taylor and Francis Journals, Taylor and Francis Journals, vol. 1(2), pages 95-99, March.
  6. Maxym Chaban, 2010. "Cointegration analysis with structural breaks and deterministic trends: an application to the Canadian dollar," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 42(23), pages 3023-3037.

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