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標題: A revisit to the nonlinear stationarity of real exchange rates
作者: Wu, J.L.
Lee, C.C.
關鍵字: mean-reversion;random-walk;unit-root;adjustment
Project: Applied Economics Letters
期刊/報告no:: Applied Economics Letters, Volume 15, Issue 2, Page(s) 155-159.
This article applies the test by Kapetanios et al. (2003) to re-examine the nonlinear stationarity of real exchange rates in which we emphasize both the real bilateral exchange rates and the real effective exchange rates. Our empirical findings provide weak evidence on the nonlinear mean-reverting adjustment of real exchange rates in both fixed and floating regimes, which is in sharp contrast to that in the existing literature.
ISSN: 1350-4851
DOI: 10.1080/13504850600749065
Appears in Collections:應用經濟學系

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