Exchange Rate Dynamics and Fundamental Equilibrium Exchange Rates

Thirdly, we use non-stationary panel econometric techniques which allows for cross-section depen- dencies and heterogeneous slopes to test empirically the usefulness of the

This study examines return predictability of major foreign exchange rates by testing for martingale difference hypothesis (MDH) using daily and weekly nominal exchange rates from

Rivara, grammairien, dans son livre traitant du «système de la comparaison», parle de comparabilité par nature (6). En d’autres termes, la question de la comparabilité ne

This paper provides empirical evidences robust to cross-sectional dependence that the FEER is related to real exchange rate in the long run and thus could be a useful tool

In order to complete this brief presentation of the national model, we define the different variables involved in equations 10 to 16: X, represents the non-oil exports in volume; D ∗

But for those who do not believe in this Nemesis theory, a procyclical evolution of the real exchange rate appears all but normal. Of course exchange rates are usually

The real exchange rate depreciates less to stabilise the trade balance and the net foreign assets position (see Table 3).. Public debt decreases, leading to a weaker effect on

Yet China has been experiencing strong economic growth for a decade and does not seem to suffer from the supposed misalignment of its exchange rate, having a relative low